FRAMINGHAM, Mass.–(BUSINESS WIRE)–Economic uncertainties have increased the downward pressure on smartphone prices globally with 73% of shipments in 2020 expected to be priced below $400, according to a new price band forecast from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. Worldwide smartphone value is expected to decline 7.9% in 2020 to $422.4 billion, down from $458.5 billion in 2019. The downward trend is intensified by consumers turning to devices priced in the low-to-mid range as they prioritize spending on essentials.
Overall, the low-to-mid end segment ($100 to less than $400) dominated global smartphone shipments with 60% market share in the second quarter of 2020 (2Q20) and is expected to grow in the short term to 63% by next year. The mid-to-high end segment ($400 to less than $600) grew its share of the market by almost 4 points to 11.6% in 2Q20. Devices from Samsung,