Dublin, Ireland (PRWEB) March 15, 2013
TechNavio's analysts forecast the Smartphone market in BRIC to grow at a CAGR of 72 percent over the period 2011-2015. One of the key factors contributing to this market growth is the decline in the prices of smartphones in BRIC. The Smartphone market in BRIC has been witnessing an increase in adoption as a result of contactless payment schemes. However, the influx of low cost-feature phones may be a challenge to the market during the forecast period.
Commenting on the report, an analyst from TechNavio's Hardware team said: ''The introduction of new products by smartphone vendors in Brazil, Russia, India and China (BRIC) is increasing the penetration of these devices in these countries. Also, the increasing availability of accessories and support services for high-cost smartphones is promoting the growth of the Smartphone market in BRIC. As a result of the growing demand for smartphones among customers in BRIC, the Smartphone market in BRIC is expected to post positive growth during the forecast period.''
According to the report, one of the key factors is the increasing demand for all-in-one devices for facilitating both enterprise mobility and access to entertainment. In addition, smartphones allow consumers to gain high-speed internet connectivity on a pay-per-use basis from mobile service providers.
Further, the report reveals that one of the key factors hindering market growth is the high cost of smartphones.
Apple, HTC, Huawei Technologies, Motorola Mobility Holdings, Nokia, Research In Motion, Samsung Electronics, Sony, ZTE