Phablets and superphones are advanced versions of smartphones and tablets that have a bigger display along with the features of phones and tablets. It is estimated that more than one billion smartphones were shipped in 2013, and it is projected that the market volumes would grow to 1.2 billion shipments in 2014. However, with the advances of phablets and superphones, smartphones are expected to take a backseat and phablets and superphones would rule the market in the future. Market projections state that phablets shipments grew from 25.6 million in 2012 to more than 60 million in 2013 and the market is expected to grow exponentially. The key driver for the growth of the market is that these devices have the features of phone as well as tablets; therefore, there is a change in end-user buying preference from smartphones and tablets to phablets. Additionally, technological advances have made the display quality of these devices superior than before, which is a key feature to enhance the market growth.
However, the operating phablets and superphones is a complex process which acts as a hindrance in the growth of the market. Moreover, the prices of these devices are high as compared to smartphones and tablets as these devices use a combination of both smartphones and tablets that adds to the cost. Even though the cost is currently high, it is expected that technological advances would lead to price correction, which presents better growth opportunities for the market in the future. The key challenge for companies in the market is to create a wide range of products which would lead to growth in the demand as consumers would have better options to choose products.
Some of the key players profiled in the report are Samsung Electronics Co. Ltd., Sony Corporation, Motorola, Inc., ASUS, Inc., HTC Corporation, LG Display Co. Ltd., Micromax Ltd., Dell, Inc., Huawei Technologies Co. Ltd., and ZTE Corporation.
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