16 Biggest Smartphone Companies in the World in 2023
In this article, we will be taking a look at the 16 biggest smartphone companies in the world in 2023. To see more of them, you can go directly to read about the 5 Biggest Smartphone Companies in the World in 2023.
Smartphones have become such a vital part of human life at this point that virtually no one can imagine leaving their home without one. They keep you connected to people around the world, making communication almost too easy, leaving some to even consider them a technological addiction. There are many critics of this development who believe that people today may even over-rely on smartphones, which in itself may lead to several problems. However, for the companies involved in this market, this reliance on their products can only mean good things.
Rising Mobile Service Subscriptions
The beneficiaries of smartphone addiction include companies such as Apple Inc. (NASDAQ:AAPL), Sony Group Corporation (NYSE:SONY), and Samsung Electronics Co., Ltd. (OTC:SSNLF), to name only a few. As each year passes, the number of people subscribed to a mobile service rises. According to a report on the mobile industry published by the GSM Arena, by the end of 2022, more than 5.4 billion people across the globe had subscribed to a mobile service. 4.4 billion people were also using mobile internet. These numbers have made it possible for the mobile technologies and services market to generate 5% of the global GDP in 2022, which amounted to about $5.2 trillion of economic value. It also helped support 28 million jobs across the global mobile ecosystem.
According to the report, this will not be the end of mobile services and technology's dominance. GSM Arena forecasts that 5G adoption will reach 17% in 2023, rising to about 54% by 2030. This percentage would be equivalent to 5.3 billion connections across the globe and would add another $1 trillion to the global economy in 2030. As far as smartphone connections are concerned, the report forecasts that by 2030, we can expect these connections to rise to 9 billion, which would be equivalent to about 92% of total mobile connections. Additionally, it was mentioned that global smartphone data traffic will also rise more than threefold by 2028, helped primarily by users in North America and Northeast Asia, where the majority of users reside.
Unparalleled Growth
These statistics highlight not only the immense growth of the mobile industry but also its ability to continue contributing to the global economy. GSM Arena expects the industry to continue growing its revenue in both developed and developing regions through 2030. The mobile ecosystem has also been contributing to the public sector. In 2022, for example, the ecosystem contributed about $530 billion to the sector through taxes. Primary drivers include services VAT, sales taxes, and excise duties which brought in about $210 billion of the total amount. They were followed by employment taxes and social security, which generated about $160 billion.
All of the above goes to show that this industry is one that has proven itself as a vital driver of the global economy, and the same holds true for individual countries' economies as well. The technology sector at large is one that has been doing immensely well in 2023, primarily in light of the artificial intelligence boom caused by discussions surrounding generative AI. Due to this, many major smartphone companies are also being swept up in the tide, with endless opportunities now opening up for them. Keeping this in mind, we have compiled a list of the biggest smartphone companies in the world as of 2023.
Our Methodology
To select the companies for our list, we looked at public and private smartphone producers and checked their market capitalizations or estimated valuations. We then ranked the companies based on this metric, from the lowest to the highest value.
Biggest Smartphone Companies in the World in 2023
16. HTC Corporation (TPE:2498)
Market Capitalization: $1.5 billion
HTC Corporation (TPE:2498) is a high-tech computer corporation based in Taoyuan City, Taiwan. The company was founded in 1997 and has since been designing and manufacturing smart handheld devices such as smartphones and tablets.
The company's product portfolio includes PDA phones, virtual reality devices, and other accessories alongside several Internet of Things (IoT) products. In 2008, the company released a commercial Android smartphone, the HTC Dream, and has since been rolling out other models. It makes smartphones based on both Android and Windows software.
Like Apple Inc. (NASDAQ:AAPL), Sony Group Corporation (NYSE:SONY), and Nokia Corporation (NYSE:NOK), HTC Corporation (TPE:2498) is a seasoned player in the smartphone market.
15. Realme
Estimated Valuation: $3 billion
Realme is a consumer electronics company with headquarters in Shenzhen, Guangdong in China. The company was founded in 2018, and its parent organization is BBK Electronics.
Realme offers a wide variety of Android smartphones which it sells in several markets, including the Chinese, European, South Asian, and Southeast Asian markets. By 2021, the company had become the fastest-grown 5G smartphone brand.
14. Tecno Mobile
Estimated Valuation: $4 billion
Tecno Mobile is a mobile phone manufacturing company based in Shenzhen, China. The company falls under the wing of Transsion and was founded in 2006.
The company operates in over 60 countries, and it provides laptops and electronics accessories alongside smartphones and other products. Tecno Mobile focuses its operations in the African, Middle Eastern, Southeast Asian, South Asian, Latin American, and Eastern European markets.
13. ASUS (TWSE:2357)
Market Capitalization: $7.7 billion
ASUS (TWSE:2357) is a multinational computer, phone hardware, and electronics company. It is based in Taipei, Taiwan, and was founded in 1989.
The company is renowned for both its laptops and its smartphones. ASUS (TWSE:2357) has several manufacturing facilities globally, including in Taiwan, China, Mexico, and the Czech Republic.
12. Honor
Estimated Valuation: $10 billion (2020)
Honor is a smartphone producer that was owned by Huawei initially, but today it is owned primarily by a state-owned enterprise controlled by the municipal government of Shenzhen. The company was founded in 2013 and is based in Shenzhen, China.
The company's smartphones, tablets, and wearable technology products are sold across the globe. Honor is available in 74 countries. In 2021, it launched its first non-Huawei phone, the V40 model. The latest estimate on the company's valuation is from 2020 when it was estimated to be worth $10 billion.
11. Motorola Mobility
Estimated Valuation: $12.9 billion
Motorola Mobility is a consumer electronics company based in Chicago, Illinois. The company is a subsidiary of Lenovo, which purchased it in 2014. It was founded in 2011.
The company produces smartphones and other mobile devices running on the Android software. Motorola Mobility also provides tablets and other wireless devices, and it has a strong presence in the government and enterprise markets.
10. LG Electronics Inc. (KRX:066570)
Market Capitalization: $16.3 billion
LG Electronics Inc. (KRX:066570) is based in Seoul, South Korea, and is a multinational electronics company. It is part of LG Corporation and was founded in 1958.
While LG Electronics Inc. (KRX:066570) announced recently that it would be closing down its mobile phone business, it is still one of the biggest smartphone companies in the world because of the number of LG phones consumers still use. The company itself also mentioned that it will still be providing its users with software updates on their smartphones for three years after the announcement.
19. Vivo
Estimated Valuation: $21 billion
Vivo is a technology company based in Dongguan, China. It was founded in 2009 and works to design and develop smartphones, smartphone accessories, software, and online services.
The company has several research and design centers across the globe, including those in Shenzhen, Nanjing, Dongguan, Tokyo, Taipei, and San Diego. Vivo has 10,000 employees.
8. Nokia Corporation (NYSE:NOK)
Market Capitalization: $22.8 billion
Nokia Corporation (NYSE:NOK) is a telecommunications, information technology, and consumer electronics company. It was founded in 1865 and is based in Espoo, Finland.
In 1998, Nokia Corporation (NYSE:NOK) was the largest global vendor of mobile and smartphones. The company has since then sold its mobile phone business to Microsoft Corporation (NASDAQ:MSFT), but it was included in this list because of its involvement in the smartphone market for decades and the remaining circulation of Nokia phones among consumers today.
7. ZTE (SHE:000063)
Market Capitalization: $26.4 billion
ZTE (SHE:000063) is a technology company that specializes in telecommunications. It was founded in 1985 and is based in Shenzhen, China. The company has over 72,000 employees.
The company's products are sold across the globe, and it began releasing smartphones in the US in 2011. Several companies, such as Vodafone in the UK, Telus and Fido in Canada, and Telecom in France, purchase equipment from ZTE (SHE:000063) as well.
6. Panasonic Holdings Corporation (TYO:6752)
Market Capitalization: $27.5 billion
Panasonic Holdings Corporation (TYO:6752) is based in Osaka, Japan, and was founded in 1918. The company offers many products, such as phones, rechargeable batteries, automotive and avionic systems, and more.
The company had about 20% of the Japanese phone handset market by 2012. While it withdrew from overseas phone markets in 2005, it returned in 2012 with the release of the Panasonic Eluga Android-powered smartphone.
Like Apple Inc. (NASDAQ:AAPL), Sony Group Corporation (NYSE:SONY), and Nokia Corporation (NYSE:NOK), Panasonic Holdings Corporation (TYO:6752) is among the largest smartphone brands across the globe today.
Click to continue reading and see the 5 Biggest Smartphone Companies in the World in 2023.
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Disclosure: None. 16 Biggest Smartphone Companies in the World in 2023 is originally published on Insider Monkey.
