Essay: Worldwide Mobile Phone Manufacturing Industry

Essay: Worldwide Mobile Phone Manufacturing Industry
23/04/2011 Comments Off on Essay: Worldwide Mobile Phone Manufacturing Industry Academic Papers on Information Technology,Sample Academic Papers admin

Sample Essay

This essay discusses worldwide mobile phone manufacturing industry.

The total revenue generated from the mobile phone industry in 2008 was around $ 101 billion which shows that this is a billion dollar industry. Another figure which illustrates the potential of this market is the fact that for the period across 2004-2008 the compound annual growth rate of the industry was 12.2% which proves the fact that the industry is growing (Datamonitor, 2009).

The current economic recession which the world is facing has little effect on the mobile phone business. Director of wireless consulting firm Joe Nordgaard believes that due to the recession consumers would cut back their expenses and a high demand for some of the smart phones are not expected but they would still buy the cheaper phones. The reason he has given to support this fact is that now days mobile phone is not luxurious item it has become a necessity of life like electricity or water. Experts believe that economic recession would have an effect on the buying behavior of the consumers but not on the demand of the phones (Medford, 2008).

Companies segment their market according to the demographic data like age groups, education, and sex. Some of the companies target the young generation and they include applications which catch the youth’ attention.

As far as the future trend is concerned it is on the rise and as researchers forecast that by the end of 2013 the market’s volume would increase to 1.5 billion units. The market value of the global mobile phones is predicted to have an overall worth of $157 billion, which shows an increase of 55.3% since 2008. This analysis gives a good view of the prospect that this market has. Another factor which could be analyzed from this fact is that the increase in the market value and the market volume shows that the companies involved in this business are fulfilling the customers’ needs well that is why such a high percentage of increase is observed (Datamonitor, 2009).

Also with the advent of constantly enhancing technology the future of mobile industry is on the rise. More and more mobile centric applications are launched every day.  The reason why companies like Motorola, Nokia and Samsung are forced to constantly bring innovative technology, features and applications in their products is because the consumers are demanding an increasingly high standard of functionality in their cellular phones (Schloter, 2005).

Allen Nogee, principal analyst at the In-Sat believes that the industry has enough potential to absorb this economic shock. Expensive applications for example the GPS assisted applications and other services like 3G or WiMax would go down but the overall market would not be effected that much (Medford, 2008).

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