The number of active smartphone brands has significantly declined from over 700 in 2017 to almost 250 in 2023, with the decline mainly coming from local brands. Factors such as a maturing user base, improved device quality, and industry challenges have contributed to this trend. The rise of Chinese brands like Xiaomi, OPPO, and vivo has also played a role in the decline of small brands. Big brands have been able to invest in research and development (R&D), manufacturing, and marketing, while small brands have struggled to keep up. As the market continues to evolve, it is crucial for brands to invest in R&D, target specific segments, and track the competition to succeed.
https://www.counterpointresearch.com/insights/nearly-500-brands-exited-smartphone-market-during-2017-2023/