According to the latest CounterPoint report, it shows that at the peak of the smartphone arena in 2017, there were around 720 smartphone brands in the market. However, now a few years later, in 2023 there will be just over 250 brands – thus showing that nearly 500 smartphone brands have ended their offerings and operations.
As many are aware, during that period as well, popular brands such as Lumia, BlackBerry and LG have also left the market. Not to be left out is a large number of local brands for a country that closed operations due to the lack of components during the previous MCO.
A large number of smartphone brands that are shutting down operations are also present from India, China, the Middle East, and even Africa.
For the last two years as well, a number of brands have ceased operations due to macroeconomic effects and rising costs – making it difficult for local and small brands to continue operations.
As of 2023, around more than 250 smartphone brands are seen to be still operating.
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