The electronic industry is one of the biggest industries with a market value of one trillion (2019). Well, the development of the electronic industry started with the invention of the radio transmitters and gramophones in the 19th century.
In the 20th century, it emerged as a big industry. The evolution of this industry has totally changed the lifestyles of people.
Now people can’t think of living without the use of electricity and electronic devices.
People with the business mind are looking for an answer to the question that is, “which electronic item is most popular among the people”. Which item will be most suitable for the wholesale electronics business? Which item is probably the best to buy wholesale electronics online?
We give you the answers to these questions. Not only this, we will also explain how it is so popular among the customers.
Most Sold Electronic Item in the World: Smartphone
Yes, the smartphone is the most selling electronic item. In 2019, more than 1.9 billion units were sold worldwide. This news will surprise you that more than 40% of the world’s population is using smartphones.
The increasing demand for improved features is the main cause of the expansion of this industry. The bright future of the phone industry attracts businessmen.
The number of mobile users is increasing. So, the smartphone industry is continuously growing both in the suppliers and new designs perspective.
What are the Reasons for which Smartphones Become Top-selling Item?
Smartphones have become the desire of every person. How? The following points help to understand this.
- The Best Source to Connect People
The very first reason for the popularity of smartphones is the connectivity with other people. It shortens the distances. Now people can connect to anyone at any time anywhere.
The Internet is available everywhere and another plus point is that people don’t have to spend a huge amount on it.
- Online Shopping and Making Deals
The increasing trend of online wholesale shopping and ordering products is also a big reason to enhance the use of mobile.
There are lots of websites and apps available that offer the customers to buy the goods online. It is the most convenient way for customers to buy products with a single click on a smartphone.
Who wants to face the difficulty of bickering in the local market to sell and buy products? Smartphones allow them to browse the products in every corner of the world. They can receive the desired products while sitting on their couch. The ease of usage makes it the most demanding product.
- Business Opportunities
Every businessman is thinking to move towards online options. Smartphones are thought to be necessary to remain connected to the business. It is necessary to perform their role more effectively as it helps to make and review multiple reports on mobile. Multiple apps allow you to manage your daily works efficiently.
- The Best Source of Entertainment
The prime reason for people to use smartphones is entertainment. Through mobile people fulfill the purpose of entertainment because smartphones
- help to expand social circle
- Help to watch movies, dramas, matches, etc.
- Have hundreds of entertaining/educational apps
- Have interesting games available for different ages of people.
Top Brands of Smartphones
Here, we tell you about the three big brands of smartphones that have a major share in the revenue of this industry. Let’s discuss them one by one.
- Apple Inc
Apple Inc. is one of the highest-earning companies. It is an American company that is involved in developing, designing, and selling consumer products.
This company provides high-quality and expensive smartphones to a specific class of users.
They provide you better technical support and with faster responses and also easy to use.
The people who can afford it, really enjoy its wonderful features.
Samsung is a South Korean electronics company founded in 1969. It is involved in the manufacturing of many other digital facilities and one of the most successful ones is a smartphone.
It is the highest-selling brand and contributes a major share in the revenue of the smartphone industry.
They have a wide variety of mobile with flexible prices. They are using Android’s operating system that is easy to understand and use. Customers can choose according to the requirement.
Huawei is a Chinese company established in 1987. It serves in both consumer and business segments with different products. But it is more famous in the smartphone industry.
It is considered as the 2nd most selling brand in the mobile industry
The best thing about it is the flexible price range that is accessible even for low-income people.
In this way, they can enjoy all the features like big brands at a reasonable price.
Future of the Smartphone Industry
The smartphone industry is growing day by day. New and easy features make them more beneficial for business, social, and entertainment use.
According to a study, there is an expectation that by 2023, the usage of mobile phones will increase up to 90%, and mobile sales will increase to 1.85 billion per year.
This shows the bright picture of the smartphone industry for the future. That is a good sign to invent the growing industry of smartphones.
It is a good opportunity for those who are interested in this industry whether as a wholesaler or retailer.
Join this industry without any fear.