Global Tech_ Smartphone TAM update_ Introducing detailed breakdown by price band

Industry Overview 1. Global Smartphone Market Segmentation: The global smartphone market is segmented into three price bands: Premium (>US$600), mid-end (US$200-600), and entry level (<US$200). [20] 2. **Market Growth Projections**: The global smartphone market is expected to grow at a modest pace, with a volume growth of +3$573bn in 2025E. [6][8] 3. Premium Segment Growth: The premium segment is expected to grow at a 7% CAGR to 418m units in 2024-27E, accounting for 32% of total volume in 2027E. This segment is driven by strong consumer purchasing power and continuous technology upgrades. [21] 4. Mid-End Segment Decline: The mid-end segment is expected to decline by 4% CAGR to 306m units from 2024-27E, down to 23% of the total shipment by 2027E. This decline is attributed to the lack of revolutionary technology upgrades and conservative consumer behavior. [24] 5. Entry Level Segment Stability: The entry level segment is expected to remain stable, with a volume growth of 3% CAGR to 581m units in 2024-27E, contributing 45% of the total market. [25] 6. Foldable Phone Penetration: Foldable phones are expected to become more mainstream, with a penetration rate of 3.1%/ 3.7% / 4.5% in 2025-27E. This growth is driven by price reductions, software improvements, and innovative designs. [12] Company Analysis 1. Apple: Apple is expected to maintain its leading position in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 2. Samsung: Samsung is also expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 3. Xiaomi: Xiaomi is expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 4. Lenovo: Lenovo is expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 5. ZTE: ZTE is expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 6. Sony: Sony is expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 7. HTC: HTC is expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] 8. Asus: Asus is expected to grow in the premium segment, with a shipment growth of +5% / +3% / +2% YoY in 2024E / 25E / 26E. [35] Supply Chain Analysis 1. Semiconductors: The semiconductor industry is expected to grow, driven by demand for smartphones, PCs, servers, and other consumer electronics. [37] 2. Components and Brands: Companies like MediaTek, TSMC, and SMIC are expected to grow due to increased demand for smartphones and other consumer electronics. [37] 3. EMS and Surveillance: Companies like Hon Hai and Pegatron are expected to grow due to increased demand for smartphones and other consumer electronics. [37] 4. Telecom and Communication: Companies like ZTE and Huawei are expected to grow due to increased demand for smartphones and other telecommunications equipment. [37]