Connect with us

Broadcasting

Phablets Shipments Expected to Hit 1 Billion Units by 2021

Published

on

Kindly share this post

 International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, has predicted that overall smartphone shipments will steadily grow from 1.5 billion units in 2017 to 1.7 billion units in 2021.

 

They also said that, phablets (smartphones with a screen size of 5.5 inches to <7 inches) will far outpace total market growth by climbing from 611 million units in 2017 to 1 billion units in 2021, representing a five-year compound annual growth rate (CAGR) of 18.1%.

 

In comparison, the total smartphone market is expected to grow at a 3.0% CAGR during the same period, while normal smartphones (under 5.5 inches) will decline 7.4%.

 

Overall, IDC lowered its previous forecast for 2018-2021 by 1.1%-1.5%, depending on the year.

 

The largest changes came in the China and Middle East & Africa regions, which are still expected to grow through 2021.

 

Android-based phablets have been the primary driver of large-screen smartphones and IDC expects this trend to continue in the years to come.

 

Samsung’s early dominance of the phablet category has been short lived as other Original equipment manufacturers(OEMs), many of which are Chinese OEMs, quickly pushed the category into the mainstream and even low end.

 

As a result, China consumed 50% of the 437.4 million phablets shipped in 2016.

 

IDC expects China will remain the largest market for large-screen smartphones and to grow at a CAGR of 12.6%.

 

Ryan Reith, program vice president with IDC’s Worldwide Quarterly Mobile Device Trackers said that,”In 2012, phablets were just 1% of smartphone shipments and now they are approaching 50% of the market just a few years later,”

 

“The rapid transition to bezel-less smartphones will help minimize the device footprint while growing the screen size from previous generations.

 

“Consumers continue to consume more video entertainment, gaming, social media, and other data-heavy applications on their smartphones making the display size and type a critical factor in smartphone buying decisions.”

 

Apple has also made a massive push into the phablet space and IDC expects its Plus and X devices to account for 41.2% of its shipment volume in 2017 and 50% or more of Apple’s iPhone shipments in 2018.

 

If the recent rumors of new, larger screen iPhones in 2018 hold true, then this number will likely grow further as a share of its overall shipment volume.

 

According to Anthony Scarsella, research manager with IDC’s Worldwide Quarterly Mobile Phone Tracker. “There is no doubt that 2017 gave birth to the new ultra high-end segment of the smartphone market,”

 

“The latest flagship devices from Samsung, Apple, Google, LG, and others has pushed the high end to the $850-plus level for the first time.

 

“Despite these price hikes, consumers look as if they are willing to swallow the cost just to have the latest and greatest device in their pockets.

 

“Although many consumers may not be able to afford these devices in more price sensitive markets, programs such as device financing combined with trade-in policies are making these devices more attainable to buyers in a number of markets.

 

“This growth at the ultra high end translates to higher average selling prices (ASPs) for smartphones throughout the forecast period.

 

“By 2021, the last year of our forecast, smartphones will reach an ASP of $317, up from $282 in 2016, representing a CAGR of 2.3%.”

 

Highlights of various Platforms shows that Android-powered smartphones have already captured 85% of total market volume and IDC expects this share to remain relatively stable throughout the forecast.

 

What has changed is the vendor landscape with OEMs that have more market history feeling intense pressure from a range of up and coming vendors focused on tight inventory control and new go-to-market strategies.

 

Despite Android smartphones having such a high share of the market, volumes are still expected to grow from 1.3 billion in 2017 to 1.5 billion in 2021, which represents a five-year CAGR of 3.2%.

 

Apple’s launch of the iPhone 8/8+ and X in late 2017 set the company up to return to iPhone volume growth in 2017.

 

IDC expects an even bigger rebound in 2018 as channels fill up with inventory of the new models and as price cuts around earlier models enable it to hit lower price points.

 

Coming off the 7% decline in iPhone shipments in 2016, IDC is forecasting growth of 2.4% in 2017 and 8.1% in 2018.

 

IDC also projects sustained growth for Apple through the later years of the forecast with volumes growing at a five-year CAGR of 3.1%.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

VFD Group Proposes SplitXchange for Financing Nigeria’s Creative Industry

Published

on

Kindly share this post

VFD Group Plc has proposed the introduction of a specialized Exchange that would address the issue of financing in Nigeria’s entertainment and creative industries to bolster foreign exchange earnings and economic development.

Folagbade Adeyemi, the Managing Director of Splitar Limited,  stated this while speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) quarterly Forum, sponsored by VFD Group Plc.

Adeyemi revealed that the Group is actively pursuing an exchange platform tailored to the media and entertainment sector, offering diverse investment opportunities for both domestic and international investors.

Currently in its development stage, SplitXchange when launched, would offer a platform for financing the media and entertainment industry, among other alternative assets.

According to him, “Seeing the huge potential in alternative assets, Splitar Holdings, through Split Exchange, would drive the alternative assets space with its revolutionary digital exchange.”

He emphasized the potential of this sector to significantly improve the GDP of the country and called for a collaborative approach towards establishing robust frameworks and clear guidelines to support investment in alternative assets leveraging technology.

“Unless we collaboratively set up institutions that can provide data around these asset classes and place a true value on these asset creators to make seeking finance a lot easier, we will not see significant returns.

“A lot of transactions have been ongoing within that space which are not captured within the country’s value chain. That is what SplitXchange seeks to address.”

With Nigeria’s estimated population at 208.8 million people, Adeyemi highlighted the increasing demand for Nigerian content locally and on a global scale.

Speaking on the theme: “Beyond Tradition: Increasing Relevance of Alternative Assets in the Capital Market,” Adeyemi lamented the absence of robust funding pillars in the country.

He emphasized the potential of Entertainment and Media, noting that globally there is an average market size of $41 billion as of 2021 with an estimated growth of 4.2 per cent.

While pointing out investments by Netflix and Amazon, which have churned out blockbuster movies that have gained viewership and streams across the globe, he noted that Nigeria’s biggest investor in the form of Pension Assets was yet to invest in the entertainment or streaming services.

He stressed the need to solve the problems of liquidity, efficiency, and barriers to entry in the country.

“In today’s market, the quick conversion of assets into cash is a challenge due to the absence of a well-structured marketplace that oversees and regulates these assets.

“The automation of processes such as compliance, escrow account management, dividend distribution, corporate action management, and drag-along actions technology presents a significant challenge in today’s alternative market. The high initial cost of assets in this market restricts participation to only affluent individuals and corporate investors,” he said.

He noted that the sector remains excluded from the organized financial sector due to the inability of intermediaries to recognize Intellectual Property (IP) as suitable collateral to access funding. “Projects are financed informally through a network of angel investors, high net worth individuals, non-governmental organizations, government, and personal savings,” Adeyemi said.

Furthermore, he pointed out that investors and asset creators face challenges when seeking investment opportunities or raising capital through traditional financial avenues.

“Traditional financial institutions are ill-equipped to appraise industry opportunities due to poor visibility, data, and income/revenue leakages leading to mispricing through high-interest rates, market illiquidity of associated securities, poor market depth, and lack of accessibility for retail investors,” he said.


Kindly share this post
Continue Reading

Broadcasting

Konga Travel Commences Canadian Visa Services for Professionals and Students

Published

on

Kindly share this post

Konga Travels and Tours, a leading provider of travel services in Nigeria is pleased to announce the launch of its Canadian visa assistance services through strategic partnership with a licensed Canadian immigration company.

Konga Travels is now equipped and in a vantage position to assist clients in realizing their relocation dreams.

The new Canadian visa services cater to the travel needs of diverse category of individuals including students, workers, professionals, and investors looking for new opportunities in Canada.

Applicants can get exclusive packages on business immigration, study in Canada, work permits, as well as visit and tourist visa services with the professional assistance of Konga Travels and Tours.

The Business Immigration visa is tailored to investors interested in conducting business activities in Canada with a pathway to permanent residency. The Study in Canada visa service caters to students aspiring to pursue undergraduate or postgraduate studies in foreign institutions renowned for their academic excellence and global recognition.

Okezie Akaniro, Senior Vice President of Konga Online Limited expressed excitement about the expansion of the company’s service portfolio saying “We are thrilled to introduce Canadian visa assistance services to our esteemed clients because we understand the aspirations of Nigerians seeking to pursue educational, professional, or business opportunities in Canada.

“This partnership underscores Konga Travels’ commitment to providing holistic travel solutions that meet the diverse needs of our customers, with our expertise and strategic collaboration, we aim to simplify the Canadian immigration process and help individuals achieve their aspirations of studying, working, or investing in Canada,” he stated.

Expressing his enthusiasm for the new service, Abiola Bakare, Business Head of Konga Travels and Tours posited, “At Konga Travels, we continuously seek ways to enhance the travel experiences of our customers.

“The introduction of Canadian visa assistance services aligns with our goal of providing end-to-end solutions and simplifying the travel process for our clients.”

Konga Travels and Tours goes beyond processing visa applications. As part of its suite of services, Konga Travels offers flight booking, hotel reservations, and tour packages. Recently, Konga Travels and Tours further enhanced its offerings by partnering with Coronation Insurance to provide comprehensive travel insurance solutions.

For further inquiries, customers are encouraged to contact Konga Travels through any of the official customer touchpoints provided here:

Phone Call: +234 809 460 5555; 0708 063 5700

WhatsApp: +234 (0) 811 211 4488

Email: [email protected]

Facebook: Konga Travel

Instagram: @kongatravel


Kindly share this post
Continue Reading

Broadcasting

5 Strategies to Prevent Payment Delays from Hurting Your Business

Published

on

Kindly share this post

Payment delays pose significant challenges for businesses across Africa. Maintaining a steady cash flow is essential for business growth and sustainability, making it crucial to address late or non-payments from customers.

So, how can SMEs effectively prevent payment delays? Let’s explore five actionable strategies to keep revenue flowing smoothly.

Streamline Payment Processes
Smoother payment experiences lead to prompt payments. Simplifying the payment process for customers by offering multiple payment options enhances convenience and reduces the likelihood of delays. It is important to note that collaborating with a reliable payment gateway is fundamental in achieving seamless transactions.

Embrace Subscription Models

Adopting a subscription-based payment model ensures consistent cash flow and predictability in revenue streams. SeerBit has innovative features, such as partial debits and automatic retries which fortify this model, ensuring uninterrupted revenue even amidst payment hiccups.

Digitize Invoicing

Transitioning from paper-based to digital invoicing eliminates delays caused by delivery hiccups, while also minimizing the risk of lost documents. Digital invoicing not only streamlines payment tracking, but also enhances operational efficiency.

Implement Incentives and Penalties

Introducing incentives for early payments and penalties for late payments encourages timely settlements. Customers are motivated to pay promptly to capitalize on discounts and other special deals, while the prospect of additional charges or sanctions deters delays. Reminder notifications serve as gentle nudges, prompting customers to fulfil their payment obligations promptly.

Proactive Payment Management

Partnering with SeerBit empowers businesses to proactively manage payment collections. With a robust payment gateway offering seamless transactions, recurring payment capabilities and digital invoicing services, businesses can effectively mitigate the risks associated with payment delays.

Conclusion

Preventing payment delays is critical for sustaining business operations and fostering growth. The World Bank predicts that late payments cost the global economy over $40billion every year. By implementing these strategies and leveraging the capabilities of SeerBit, businesses can optimize their payment processes, ensuring uninterrupted cash flow and significant long-term success.


Kindly share this post
Continue Reading

Trending