South Korean smartphone market to grow 11% in 2021
Around 19 million units to be sold, according to Counterpoint
South Korea’s smartphone market will grow 11% in 2021 to around 19 million smartphones, according to market research firm Counterpoint.
This is from pent-up demand after the pandemic, larger availability of 5G smartphones and phones with new form factors alluring consumers waiting to change their phones.
South Korean telco’s offer more affordable price plans and stabilization of quality of 5G services will also contribute to this growth, the research firm said.
5G smartphones accounted for 49% of the total but this will increase to 87%, Counterpoint said.
Samsung is expected to hold a market share of 65% in South Korea, while Apple will hold 22% and LG 12%.
Samsung is expected to unveil foldable phones in various price ranges after it unveils the Galaxy S21 series on January 15.
Apple, along with iPhone 12, will also launch a new iPhone SE and iPhone 13 series this year to expand its share in Korea slightly.