According to a new market research report published by MarketsandMarkets the total global mobile handset market is expected to reach $341.4 billion by 2015. Smartphone sales are expected to account for 76 percent of the overall mobile handset revenue at $258.9 billion in the same year. Apple is expected to lead the growth till 2015 commanding largest share of the overall mobile handset revenue with 26 percent market share while Nokia will trail in second place with 21 percent market share.
The global mobile handset market grew strongly in 2010 with 12 percent growth in terms of revenue coupled with a 12 percent shipment growth. In total, there were 1,278 million mobile handsets shipped with a value of $172.2 billion in 2010.
According to the report, the growth in mobile handset market was driven by increased consumer interest in high end smartphones, lower smartphone prices, improved network coverage along with the expansion of key technologies including 3G and expected 4G roll outs in emerging markets and aggressive expansion plans on the part of key suppliers.
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