The global mobile phone market is on the decline in 2012, with experts predicting the lowest annual growth for three years. Research firm International Data Corp. (IDC) says the market will grow by a mere 1.4 percent
growth this year, with the poor state of the current global economy being cited as a factor. Kevin Restivo, a senior research analyst at IDC said, "Sluggish economic conditions worldwide have cast a spell over the mobile phone market this year."
Despite the negative outlook, smartphone demands are on the rise, with IDC projecting a 45 percent increase in global smartphone shipments. The emergence of China as a powerful player in the mobile market is one of the reasons why smartphones have gained popularity, according to IDC.