- Almost 500 smartphone brands have exited the market since 2017, according to a new report.
- Local brands accounted for the overwhelming majority of shuttered companies.
We all know about the major Android phone manufacturers leaving the market in recent years, such as BlackBerry and LG. But a tracking firm has now revealed that almost 500 brands have actually exited the smartphone business in the last seven years.
Counterpoint Research revealed that there were almost 250 active smartphone brands in 2023, down from over 700 in 2017. Unfortunately, and perhaps unsurprisingly, Counterpoint noted that the decline was “almost entirely” coming from local brands. It added that the number of global brands consistently stayed above 30.