Mobile Phones in South Korea - New Study Released

From: Fast Market Research, Inc.
Published: Thu Jan 14 2016

Volume sales of mobiles phones in South Korea are stagnating, due to saturated demand for smartphones. In terms of total volume sales, smartphone accounted for 92% of total mobile phone sales in 2015, representing a high penetration rate for smartphones. A major blow to the smartphone market was the government’s new regulations to restrict phone subsidies in October 2014. A large portion of new smartphone demand was driven by substantial subsidies provided by the manufacturers and the telecommunications companies to attract a greater number of subscribers. Therefore, consumers were able to purchase new models of smartphones at reduced prices under a contract to maintain a subscription with a given telecommunications service provider. Since the government’s restrictions were introduced, the demand for new smartphones has declined due to the reduction of such benefits.

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Competitive Landscape

Samsung Electronics Co Ltd is the clear leader in total sales of mobile phones in South Korea, with a volume share of 65% in 2015. Samsung increased its share with the launch of the Galaxy 6 and Galaxy 6 Edge in May 2015. The company has unrivalled brand power and brand loyalty among its group of users, with which it is difficult for other companies to compete.

Industry Prospects

The prospects for mobile phones are not very bright, with sales declining slightly over the forecast period. The penetration rate of mobile phones and smartphones is already very high, and it is difficult to find someone without a mobile phone, even among young students and the elderly generation. Some users also own second mobile phones to separate personal and work-related contacts.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Mobile Phones industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Mobile Phones industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Mobile Phones in South Korea market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Mobile Phones in South Korea?
* What are the major brands in South Korea?

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

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You may also be interested in these related reports:

- Mobile Phones in South Africa
- Mobile Phones in the US
- Consumer Electronics in South Africa
- Consumer Electronics in South Korea
- Mobile Phones in South Korea

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