An estimate by the International Data Corporation (IDC) suggests that 73 percent of global smartphone shipments will comprise of smartphones costing less than $400.
The forecast comes as an inference to the ramifications caused by the ongoing pandemic leading to a slowdown in the market.
Emerging smartphone trends in 2020
In a data that sees consumer spending on smartphones in Q2 of 2020, it was revealed that many are willing to spend within the amounts of $100 and $400, leading to an increase in the market share by 60 percent.
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The data draws heavily from most Asian Pacific countries, Middle East, Central and Eastern Europe, Latin America, and Africa which, cumulatively, comprises the 85 percent of sales of sub-$400 smartphones.
Meanwhile, the market share for sub-$200 devices also saw an increase by 10 percent year-on-year to 27 percent, at least in the US in the last quarter.
Despite the massive focus on the sub-$400 price range, a glimpse into the higher costing devices (between $400 and $600) saw data that insinuates a growth of 4 percent, leading to an 11.6 percent market share.
Source: IDC
Yep, people of course will not buy flagship devices during this time. Would you rather buy an expensive flagship than food?