Not just LG: around 500 brands have left the smartphone market in the last 6 years

The analytical company Counterpoint decided to find out how many brands have left the smartphone market in the last few years. And, as it turned out, the number is quite large - about two thirds.

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So, at the peak of development, which is 2017, there were more than 700 smartphone brands on the global market. These are precisely the active manufacturers that recorded their sales. And as of today, there are less than 250 of them left.

That is, in 6 years, the market has lost about 500 brands. But these are mostly small local companies - the number of global brands remains largely stable.

There are several reasons for this: the economic crisis, the transition to 5G, high competition, longer replacement cycles, and lagging behind the big players in research, development and marketing.

Analysts predict that the number of smartphone brands will continue to shrink in the future, and that the big global brands will be best able to adapt to all macroeconomic headwinds and technological transitions.

Source: Counterpoint