In this article, we will take a look at the 16 biggest smartphone companies in the world in 2023. To see more of them, you can go directly to read about them 5 biggest smartphone companies in the world in 2023.
Smartphones have become such an important part of human life these days that virtually one cannot imagine leaving their home without it. They connect you with people from all over the world, making communication almost too easy, leading some to even consider them a technology addiction. There are many critics of this development who believe that people today may become overly dependent on smartphones, which in itself can cause many problems. However, for companies involved in this market, reliance on their products can only mean good things.
Increase in mobile service subscription
Apple Inc. among the beneficiaries of smartphone addiction. (NASDAQ:AAPL), Sony Group Corporation (NYSE:SONY), and Samsung Electronics Co., Ltd. (OTC:SSNLF) are included. As each year passes, the number of people subscribing to mobile service increases. According to a report on the mobile industry published by GSM Arena, by the end of 2022, more than 5.4 billion people worldwide would have subscribed to mobile service. 4.4 billion people were also using mobile internet. These figures make it possible for the mobile technology and services market to generate 5% of global GDP in 2022, an economic value of approximately $5.2 trillion. It also helped support 28 million jobs in the global mobile ecosystem.
According to the report, this will not be the end of the dominance of mobile services and technology. GSM Arena estimates that 5G adoption will reach 17% in 2023, increasing to approximately 54% by 2030. This percentage would equate to 5.3 billion connections worldwide and add another $1 trillion to the global economy in 2030. As far as smartphone connections are concerned, the report estimates that by 2030, we can expect these connections to increase to 9 billion, which would be roughly equivalent to 92% of the total mobile connections. Additionally, it was mentioned that global smartphone data traffic will also grow by more than threefold by 2028, mainly helped by users in North America and Northeast Asia, where the majority of users reside.
These statistics highlight not only the immense growth of the mobile industry, but also its potential to continue contributing to the global economy. GSM Arena expects the industry to continue to grow its revenue through 2030 in both developed and developing regions. The mobile ecosystem is also contributing to the public sector. For example, in 2022, the ecosystem will contribute approximately $530 billion to the sector through taxes. The primary drivers include service VAT, sales tax and excise duty, which accounted for about $210 billion of the total amount. They were followed by the employment tax and Social Security, which generated about $160 billion.
All of the above shows that this industry is one that has proven itself as an important driver of the global economy, and the same is true for the economies of individual countries. The technology sector at large is one that is doing very well in 2023, mainly in light of the boom in artificial intelligence due to the buzz around generative AI. Due to this, many major smartphone companies are also getting into the flood, and endless opportunities are now opening up for them. Keeping this in mind, we have compiled a list of the biggest smartphone companies in the world by 2023.
16 biggest smartphone companies in the world in 2023
To select the companies for our list, we looked at public and private smartphone makers and examined their market capitalization or estimated valuations. We then ranked the companies from lowest to highest value based on this metric.
The world’s largest smartphone companies in 2023
16. HTC Corporation (TPE:2498)
Market capitalization: $1.5 billion
HTC Corporation (TPE:2498) is a high-tech computer corporation based in Taoyuan City, Taiwan. The company was founded in 1997 and since then it has been designing and manufacturing smart handheld devices such as smartphones and tablets.
The company’s product portfolio includes a number of Internet of Things (IoT) products as well as PDA phones, virtual reality devices, and other accessories. In 2008, the company released a commercial Android smartphone, the HTC Dream, and has since introduced other models. It makes smartphones based on both Android and Windows software.
Apple Inc. (NASDAQ:AAPL), Sony Group Corporation (NYSE:SONY), and Nokia Corporation (NYSE:NOK), HTC Corporation (TPE:2498) is a seasoned player in the smartphone market.
Estimated valuation: $3 billion
Realme is a consumer electronics company headquartered in Shenzhen, Guangdong, China. The company was founded in 2018, and its parent organization is BBK Electronics.
Realme offers a wide variety of Android smartphones that it sells in several markets including the Chinese, European, South Asian and Southeast Asian markets. By 2021, the company had become the fastest growing 5G smartphone brand.
14. Techno Mobile
Estimated valuation: $4 billion
Techno Mobile is a mobile phone manufacturing company based in Shenzhen, China. The company comes under Transion and was established in 2006.
The company operates in more than 60 countries, and offers smartphones and other products as well as laptops and electronics accessories. Techno Mobile focuses its operations in the African, Middle Eastern, Southeast Asian, South Asian, Latin American and Eastern European markets.
13. ASUS (TWSE: 2357)
Market capitalization: $7.7 billion
ASUS (TWSE:2357) is a multinational computer, phone hardware and electronics company. It was founded in 1989 and is located in Taipei, Taiwan.
The company is famous for both its laptops and smartphones. ASUS (TWSE:2357) has several manufacturing facilities globally, including in Taiwan, China, Mexico, and the Czech Republic.
Estimated valuation: $10 billion (2020)
Honor is a smartphone maker that was initially owned by Huawei, but is today largely owned by a state-owned enterprise controlled by the municipal government of Shenzhen. The company was established in 2013 and is based in Shenzhen, China.
The company’s smartphones, tablets and wearable technology products are sold worldwide. Honor is available in 74 countries. In 2021, it launched its first non-Huawei phone, the V40 model. The latest estimate on the company’s valuation is as of 2020 when it was valued at $10 billion.
11. Motorola Mobility
Estimated valuation: $12.9 billion
Motorola Mobility is a consumer electronics company based in Chicago, Illinois. The company is a subsidiary of Lenovo, which it bought in 2014. It was established in 2011.
The company manufactures smartphones and other mobile devices running Android software. Motorola also offers mobility tablets and other wireless devices, and has a strong presence in the government and enterprise markets.
10. LG Electronics Inc. (KRX: 066570)
Market capitalization: $16.3 billion
LG Electronics Inc. (KRX:066570) based in Seoul, South Korea is a multinational electronics company. It is a part of LG Corporation and was established in 1958.
While LG Electronics Inc. (KRX:066570) recently announced that it will spin off its mobile phone business, it is still one of the world’s largest smartphone companies by the number of LG phones consumers still use. The company itself also revealed that it will continue to provide software updates to its users on their smartphones for three years even after the announcement.
Estimated valuation: $21 billion
Vivo is a technology company based in Dongguan, China. It was founded in 2009 and works to design and develop smartphones, smartphone accessories, software and online services.
The company has several research and design centers around the world, including Shenzhen, Nanjing, Dongguan, Tokyo, Taipei and San Diego. Vivo has 10,000 employees.
8. Nokia Corporation (NYSE:NOK)
Market capitalization: $22.8 billion
Nokia Corporation (NYSE: NOK) is a telecommunications, information technology, and consumer electronics company. It was established in 1865 and is located in Espoo, Finland.
In 1998, Nokia Corporation (NYSE:NOK) was the largest global seller of mobile phones and smartphones. The company has since sold its mobile phone business to Microsoft Corporation (NASDAQ:MSFT), but it was included in this list because of its involvement in the smartphone market for decades and the remaining prevalence of Nokia phones among consumers today.
7. ZTE (SHE:000063)
Market capitalization: $26.4 billion
ZTE (SHE:000063) is a technology company specializing in telecommunications. It was established in 1985 and is located in Shenzhen, China. The company has over 72,000 employees.
The company’s products are sold worldwide, and it began releasing smartphones in the US in 2011. Several companies, such as Vodafone in the UK, Telus and Fido in Canada, and Telecom in France, buy equipment from ZTE (SHE:000063) as well.
6. Panasonic Holdings Corporation (TYO:6752)
Market capitalization: $27.5 billion
Panasonic Holdings Corporation (TYO:6752) is based in Osaka, Japan and was founded in 1918. The company offers a range of products, such as phones, rechargeable batteries, automotive and avionic systems, and more.
The company had about 20% of the Japanese phone handset market as of 2012. Although it withdrew from overseas phone markets in 2005, it returned in 2012 with the release of the Panasonic Eluga Android-powered smartphone.
Apple Inc. (NASDAQ:AAPL), Sony Group Corporation (NYSE:SONY), and Nokia Corporation (NYSE:NOK), Panasonic Holdings Corporation (TYO:6752) is one of the largest smartphone brands worldwide today.
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Disclosure: None. 16 largest smartphone companies in the world in 2023 Originally published on Insider Monkey.