The days of double-digit smartphone growth are over -- and the next decade may start to see smartphone sales decline. A report adds: From roughly 2007 until 2013, the smartphone market grew at an astonishing pace, posting double-digit growth year after year, even during a global recession. They were the good years, the type that would inspire a Scorsese montage: millions and then billions of smartphones going out; billions and then trillions of dollars in rising company valuations; every year new models of phones hitting the market, held up triumphantly at events that were part sales pitch, part tent revival. (To nail the Scorsese effect, imagine "Jumpin' Jack Flash" playing while you think about it.)
But just like every Scorsese movie, the party ends. Smartphone growth began to slow starting in 2013 or 2014. In 2016, it was suddenly in the single digits, and in 2017 global smartphone shipments, for the first time, actually declined -- fewer smartphones were sold than in 2017 than in 2016. Every smartphone manufacturer is now facing a world where, at best, they can hope for single-digit growth in smartphone sales -- and many seem to be preparing for a world where they face declines.
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