Dramatic decline in smartphone brands from 700 in 2017 to 250 in 2023, primarily local companies. Here are the details...
If you’re a regular Gizmochina reader, you might have noticed that we often mention how fierce the competition is in the smartphone market. Yet, many of you probably think we’re mainly talking about the rivalry between tech giants like Samsung, Apple, and Xiaomi, and might not take our words too seriously. However, a study by Counterpoint reveals the intensity of this competition. According to the published report, nearly 500 brands exited the smartphone market from 2017 to 2023.
I’m sure that no matter which country you read this from, a few manufacturers who normally did something else but at some point released their own Android phone will come to mind. In fact, these local smartphone brands were once hailed as titans in their own regions. However, they have been the main casualties in this market evolution.
As a result, local brands which once dominated their markets have seen their market share decline, or have even exited the market entirely. Additionally, these local manufacturers, already lagging in advertising, have fallen further behind due to the absence of celebrity brand ambassadors and significant marketing events.
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