The Largest Regional Smartphone Market is Growing Again
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Smartphone shipments in Asia Pacific grew for the two consecutive quarters in Q1 2024. Shipment volumes grew 7.6% YoY to reach 146 million units. To all appearances, the three-year slump in the world’s largest regional market is over. Coupled with steady ASP growth, this region is expected to account for half the increase in global smartphone revenues over the next five years. This is a huge opportunity that could reshape the smartphone vendor leaderboard.
