perfomance of Cell phone industry

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An Industry Analysis Describing the Performance of the Sector as a Whole

The growing urbanization and population around the world have contributed to the continuous growth of the cell phone business. With a 6.8% CAGR and an anticipated $335.9 billion projection over the next five years, this has been the industry's principal engine of growth in the developing world, with the majority of that growth predicted in those regions, particularly in Africa and Asia.

With the establishment of primarily producing mobile phones, this industry is quite focused. Research Among Motion Limited, HTC Corporation, and Motorola Mobility Holdings Inc. have replaced LG Electronics Inc., Ericsson, and Motorola Mobility Holdings Inc.Research In Motion Limited, HTC Corporation, and Apple Inc. This industry is the fastest-growing industry in the world. This is due to rapid increase in innovation and emerging of new technologies and is expected to instinctively grow due to urbanization and economic development in coming years (Nicholson, & Zalewski, 2016).

Global Trends Shaping Consumer Mobile Connectivity

Tablets and smartphone rate is increasing in the global market, due to changes in consumer preferences, daily usage details, and changing user habits. These trends have led to manufacturers to find which applications are favorite to consumer choice of cell phone. This trend includes mobile shape and size, mobile screen time, m payment picking speed usage, network regional preference, and instant message and text features. These trends have leads to shift of habits in order to accommodate the emerging technologies from continues evolve in cell phone industry.

The smartphone is fuelling wireless technologies connectivity growth like Bluetooth, NFC, WLAN, and GPS. This growth allows files transfers, fast media, medical sensor, headset connectivity, internet access, and VoIP services (De Kare-Silver, 2011). SIM-based embedded model with wireless charging sector accounts for largest market share due to virtual identity cards used for peer-to-peer communication and data downloading.

Competitive Analysis Reviewing Multiple Competitors that Offer Similar Products/Services

Here, I will discuss Apple Inc. as my company. Apple has the best mobile phone, this is because it builds both software and hardware of its products. This allows every app to work perfectly with the operating system and its bans other application from another manufacturer to avoid the possibility of viruses from illegal purchase. Apple phone are stylish-looking and diverse have a good ecosystem like iPod, apple watch, iPad, and iPhone has unique feature which pleases insatiable minds of customers than other manufacturers in the market.

It continues changing its business plan constantly and dynamic by introducing different products all the time.it has also made its products unique by making then expensive, hence customers who what quality goods by then. This has made than to look classy and of a high standard than other products which can be accessed by everyone in the market due to their low price. Apple Inc. has its retail stores which boost its huge turnout of selling.it has 250 retail stores worldwide and has a partnership with other companies to effectively distribute its products (Shuman, 2013).

It has continued to maintain good reputation to its customers by providing good quality products which offer good services hence retaining customer confidence and faith.it also provides new job opportunities to app developers and also hire from other diverse fields like artists, musicians, and historian so as to receive a unique and different perspective creativity from them hence improving its product and creating good brand name in the market. Another most important service is the use of their database on Apple's website, schedule an appointment with them at Apple Store Genius Bar, and even live chat in case of any help from support staff(Hopkins, & Turner,2012). This kind of relationship with the customer is not available to other firms which help them to sell their product to the trustworthy customer.

References

De Kare-Silver, M. (2011). E-shock 2020: how the digital technology revolution is changing business and all our lives. Palgrave Macmillan.

Hopkins, J., & Turner, J. (2012). Go Mobile: Location-based marketing, apps, mobile optimized ad campaigns, 2d codes and other mobile strategies to grow your business. John Wiley & Sons.

Nicholson, C., & Zalewski, G. M. (2016). U.S. Patent No. 9,524,085. Washington, DC: U.S. Patent and Trademark Office.

Shuman, M. (2013). Going local: Creating self-reliant communities in a global age. Routledge.

February 09, 2023
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Entrepreneurship

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