Financial group Credit Suisse estimates global smartphone sales to surpass one billion units by 2014. The robust growth in the worldwide sales of smartphones is largely fueled by market growth in China and the availability of cheaper devices.
Reuters reported that smartphone sales are expected to grow by 46 percent in 2012 to 687.9 million devices sold. Credit Suisse’s estimate for 2014 is 1.05 billion units sold worldwide.
Smartphone use is growing rapidly in China. “We see robust growth for the smartphone market in China,” stated Kulbinder Garcha, analyst at Credit Suisse, “which we think will account for 22 percent of global units by 2015.”
Nokia (News - Alert) expects to post losses in the first two quarters of this year, but Credit Suisse predicts a recovery in 2013. It estimates the number three global phone makers will gain an 11-percent market share by 2013. Nokia plans to revamp its product line to better compete with Samsung and Apple (News - Alert).
Samsung, the number two phone maker worldwide, is also expected to increase its market share in the near future. The same is true for Huawei.