According to a new price band forecast from the IDC ‘Worldwide Quarterly Mobile Phone Tracker,” smartphone value is expected to decline 7.9 per cent in 2020 to $422.4 billion -- down from $458.5 billion in 2019.

 Overall, the low-to-mid end segment ($100 to less than $400) dominated global smartphone shipments with 60 per cent market share in the second quarter this year and is expected to grow in the short term to 63 per cent by next year.

 “Rising unemployment rates and job uncertainty have influenced consumers’ buying patterns towards economic and affordable products. Subsequently, the overall portfolio in smartphones is moving toward low-to-mid end devices,” said Sangeetika Srivastava, senior research analyst with IDC’s Worldwide Mobile Device Trackers.

 “This has intensified competition as market players need to continue presenting attractive deals and bundling offers to encourage consumers to purchase a new device, especially in the higher-priced segments”.

 The mid-to-high end segment ($400 to less than $600) grew its share of the market by almost four points to 11.6 per cent in the second quarter.