Annual smartphone sales to surpass the billion mark by 2016

In less than five years, smartphone sales are expected to rise above the billion mark for the year, according to a new report from Juniper Research. Sales are expected to more than triple from 302 million smartphones in 2010 to more than one billion per year in 2016.
While smartphones have traditionally been at the high end, manufacturers are introducing more devices at lower price points and that will help smartphones comprise the majority of all mobile devices shipped within five years.
“In developed markets, many consumers will want to upgrade from a feature phone to a smartphone, but still pay a feature phone price. In emerging markets though, lower average consumer spending power and lack of operator subsidies will make a low price point essential,” the report’s author Daniel Ashdown wrote.