June 9, 2021

A new analysis by Gartner suggests that the smartphone industry is experiencing double-digit growth, with global smartphone sales reaching nearly 378 million shipments in the first quarter of 2021.

This is a 26% increase compared to the same period last year.

Analysts expect Apple’s new 5G-enabled handset to generate massive sales that will pique consumer interest in faster speeds while encouraging other smartphone owners to upgrade their devices.

The smartphone market is estimated to be worth around $560 billion in 2022, with Apple bringing in more than $200 billion of that estimate.

Anshul Gupta, Senior Research Director at Gartner, explained the recent increase in smartphone sales: “Consumers started spending on discretionary items as the pandemic situation improved in many parts of the world and markets opened up. However, one cannot ignore that the base for comparison is also lower in 2020, than it was in 2019. That explains the double-digit growth.”

For more information, read the original story in ZDNet.