Global smartphone sales set a new milestone in the fourth quarter of 2014, reaching $115 billion for the quarter, an increase of 20% year-on-year, according to data from research firm GfK. The number of units sold globally increased to almost 346 million, up 19% on the same period in 2013.
Smartphone sales are rising worldwide
In Q4 2014, all regions saw year-on-year growth in smartphones, both in terms of units and value. The one exception was the developed APAC region, where subsidy changes in Korea negatively affected these already very mature markets. The Latin America smartphone market enjoyed the highest growth with 36 million units sold in Q4 2014, a 43% year-on-year increase. This region also saw the value of units sold increase by 37% year-on-year to around $10 billion.
China will remain the biggest market in terms of both unit and value sales for the foreseeable future. However, growth slowed dramatically in the second half of 2014. During the fourth quarter smartphone unit sales were flat year-on-year, although the value of units sold increased by 21% year-on-year to $28 billion, the highest ever quarterly figure.
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