Report: Smartphone Market to grow 38% in current quarter

Research firm Strategy Analytics says that it expects smartphone sales to grow 38% year-over-year in the current quarter. The firm also said it expects sales to slow in the near future due to poor economic conditions in Europe, Asia and North America. The researcher sees a couple of big events in the second half of the year helping to re-ignite the smartphone market. First is the eventual launch of the 6th generation Apple iPhone, most likely in late September-early October. The second event is the expected surge of smartphone users upgrading to  handsets with 4G LTE connectivity once their contracts expire.

Strategy Analytics sees shipments of LTE enabled phones rising tenfold in 2012 and doubling in 2013. The firm calls that segment of the market the most important in the industry.  In addition, we should see the first LTE enabled Apple iPhone launch sometime in Q3 of the year. And while Verizon continues to add to the number of markets it serves with it's Long Term Evolution based 4G, AT&T is trying hard to close the gap with the leader. Sprint is in testing mode and hopes to have some LTE markets up this summer while T-Mobile plans on turning the switch on in 2013. Meanwhile, T-Mobile customers might not be in such a rush to see the nation's fourth largest carrier turn on its LTE network. A recent test found T-Mobile's HSPA 42Mbps pipeline was faster than Verizon's 4G LTE service in 11 markets.

source: StrategyAnalytics via BGR