South Koreans spend the most on phones

The past year has been a testing one for many smartphone brands, but there is good news for Samsung. A new report shows that South Korean consumers are spending the most on smartphones, which opens up prospects for Samsung, especially for the Galaxy S and Galaxy Flip and Fold series.

Here's What We Know

South Korea, along with Japan and the United States, is among the top 3 countries with the highest average selling price (ASP) for smartphones. The high popularity of Samsung's Galaxy Flip and Fold foldable phones contributed to the increase in the average selling price in South Korea.

Three countries - the US, India and China - are forecast to contribute almost half of the global smartphone revenue by 2024. This means that a significant portion of the global market will be controlled by these three countries and they will become the main source of profit for technology manufacturers.

New smartphone form factors and the rapid rollout of 5G will drive up average selling prices in the coming years. Samsung already has a strong position in the Indian market, where it became the largest smartphone brand in the first quarter of 2024.

Source: SamMobile