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The South Korea Smart Phone market reached a value of more than USD 8.28 billion in 2021. The South Korea smart phone market is expected to grow at a CAGR of 8.1% between 2023 and 2028. Factors such as faster broadband connection and new smart phone launches are anticipated to propel the South Korea smart phone market.
Some experts believe that the brand is a pioneer in the global market for foldable phones, while some think that the phone is similar to the existing android phones without any new innovative features, yet the approximately 16 million models are expected to be sold this year.
The COVID-19 pandemic and lockdown severely affected everyone, and people resorted to video games and smart phones due to boredom. This resulted in increased use of smart phones worldwide. However, there was a decline in the premium smart phones segment as people focused on investing in health and immunity-related products. COVID-19 and lockdown led to the rise in sales of smart phones as parents, children, and youngsters all spent more time playing video games on their smart Pphones, leading to the growth of the smart Phone and video game industry in the country.
Ministry of the Interior and Safety of South Korea created a smart phone app called “self-quarantine safety protection”, which is mandatory for the people to install their smart phones so that the government can monitor the progress and location of their citizens who are infected or encounter an infected person in order to prevent to the spread of coronavirus. Since the country's smart phone and internet reach is remarkable, the government uses them as a medium for the country's welfare.
According to Korea Information Society Development Institute (KISDI), smart phones have become crucial for the South Korean population. The majority of Koreans opted for smart phones as an inevitable resource , followed by televisions. Furthermore, as per the world bank statistics, Internet penetration in south Korea till 2020 was 97%, and mobile ownership was 96% , making South Korea a vast and competitive market for smart phones.
Telemedicine companies like Goodoc have made healthcare facilities accessible from the comfort of homes. People can contact a doctor and get the medicines delivered to their doorstep. The advancement in telecommunications has improved medical consultation. Consultation services are now widely accessible via apps and are one of the aspects promoting the usage of smart phones.
The telecom sector of the Asia-Pacific region is expanding due to the increased investment in research and development. In 2019, South Korea became the first country in the world to commercialise the 5G network. The Ministry of Science and ICT is investing in research, mainly focusing on the Tetra hertz bands, space communications, over-the-top accuracy, artificial intelligence (AI) and steadfastness. The government have also set up 6G network research institutes in three of the leading tech universities, which will further propel the progress of the smart phone market in the country. Factors such as growing disposable income and a high standard of living also aid the smart phone market expansion.
The addition of smart phones among youngsters led the government to initiate an addiction detox campaign. The obsession and dependence on smart phones have a detrimental effect on people's mental and social well-being. The percentage of people suffering from eyesight issues is increasing in South Korea. This could impede the market growth of the smart phone market in the country.
Based on the operating system, smart phone market can be segmented into: Android, and iOS, among others. Based in display technology, the market can be divided by LCD, AMOLED, and Others. South Korea Smart Phone Market based on the price range: Low-End, Mid-range, High range, and premium range. On the basis of distribution channels, the South Korea smart phone market is divided into offline and online.
The user-friendly interface, access to 5G internet services, and high standard of living are promoting market growth across all sectors. Android and iOS are the most preferred operating system, with android securing the larger market. With the growing innovations and new features, other operating systems are also expected to experience a significant rise during the given forecast.
The demand for lightweight yet unbreakable smart phones is increasing worldwide. People mostly prefer AMOLED screens compared to regular LCD screens. Active-matrix organic light-emitting diodes are referred to as AMOLEDs. Compared to other display types, AMOLED screens often have a higher refresh rate. The term "refresh rate" describes how frequently the monitor can change the image on the screen in a single second. Each pixel produces more light as a result of the TFT, improving the visibility of the projected image as a whole. With constant development in display technology, numerous display types are being introduced in the market, allowing customers to choose from a wide variety of options.
The market is divided into low-range, mid-range, high-range, and premium ranges based on cost-effectiveness. The demand for high-tech smart phones has further augmented since COVID-19 as people started spending more time on recreational activities such as video games. As disposable income is high, people are capable as well as willing to spend more on advanced smart phones.
Furthermore, the quality of a product is no longer the only factor in many consumers' decisions to buy it. The Korean word gaseongbi implies the worth of a good or service in relation to its cost. Currently, Korean customers base many of their judgments on this index. Customers shop on a variety of websites, like Naver and Daum, among others to get the best deals on products.
Since COVID-19 hit the country, online distribution channels have become prominent. Factors such as fast and safe delivery, easy product return policies, and better offers, among others, boost the e-commerce sector. On the other hand, the offline segment still holds a low yet considerable share in the market. The significant growth of e-commerce in South Korea has been a primary driver of the smart phone market in the country. In addition, the increased use of payments via online wallets bolsters smart phone usage in the country.
LG Electronics: LG electronics is a subsidiary of LG Group, founded in 1958. The company is the second largest electronics manufacturer in South Korea. The brand manufactures consumer and commercial electronic devices such as smartp hones, televisions, home appliances, air purification solutions, and vehicle components, among others. The headquarters of LG electronics is situated in Seoul, South Korea.
Motorola Mobility LLC: Motorola Mobility LLC manufactures electronic telecommunication devices such as mobile phones, headsets, and other devices. The company was founded in 1928 by Paul Galvin in the United States. Since 2014, the company has been a Chinese multinational company Lenovo subsidiary. The headquarters of Motorola Mobility is in Chicago, Illinois.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Operating Segment||
|Breakup by Display Technology||
|Breakup by Price Range||
|Breakup by Distribution Channels||
|Trade Data Analysis||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Smart Phone Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Smart Phone Historical Market (2018-2022)
8.3 South Korea Smart Phone Market Forecast (2023-2028)
8.4 South Korea Smart Phone Market by Operating Segment
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.5 South Korea Smart Phone Market by Display Technology
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.6 South Korea Smart Phone Market by Price Range
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.7 South Korea Smart Phone Market by Distribution Channels
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Trade Data Analysis (HS Code- 851713)
10.1 Major Exporting Countries
10.1.1 By Value
10.1.2 By Volume
10.2 Major Importing Countries
10.2.1 By Value
10.2.2 By Volume
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Samsung Electronics Co., Ltd.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.2 LG Electronics
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.3 Apple Inc.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.4 Xiaomi Corporation
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.5 Motorola Mobility LLC
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12 Industry Events and Developments
List of Figures and Tables
1. South Korea Smart Phone Market: Key Industry Highlights, 2018 and 2028
2. South Korea Smart Phone Historical Market: Breakup by Operating Segment (USD Million), 2018-2022
3. South Korea Smart Phone Market Forecast: Breakup by Operating Segment (USD Million), 2023-2028
4. South Korea Smart Phone Historical Market: Breakup by Display Technology (USD Million), 2018-2022
5. South Korea Smart Phone Market Forecast: Breakup by Display Technology (USD Million), 2023-2028
6. South Korea Smart Phone Historical Market: Breakup by Price Range (USD Million), 2018-2022
7. South Korea Smart Phone Market Forecast: Breakup by Price Range (USD Million), 2023-2028
8. South Korea Smart Phone Historical Market: Breakup by Distribution Channels (USD Million), 2018-2022
9. South Korea Smart Phone Market Forecast: Breakup by Distribution Channels (USD Million), 2023-2028
10. Major Exporting Countries by Value
11. Major Importing Countries by Value
12. Major Exporting Countries by Volume
13. Major Importing Countries by Volume
14. South Korea Smart Phone Market Structure
In 2021, the South Korean Smartphone market attained a value of nearly USD 8.28 billion.
The market is projected to grow at a CAGR of 8.1% between 2023 and 2028.
Rising disposable income, product innovation, excellent internet and smartphone penetration, growth and wide acceptance of telemedicine, indulgence in recreational activities such as social media and gaming apps are the major industrial drivers.
The commercialisation of the 5G network, along with constant research and innovation, are the key industry trends.
The dominant type of smartphones in the industry are low range, medium range, high-range, and premium.
The leading distribution channels in the market are online and offline retail channels.
The major players in the industry are Samsung Electronics Co., Ltd, LG Electronics, Xiaomi Corporation, Apple Inc., and Motorola Mobility LLC., among others.
There is fierce competition in the smartphone market in South Korea. With many domestic and international businesses competing for market share, it is also one of the fastest-growing industries.
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