Monday, September 17, 2012

The Rise of the Smartphone

Got yourself a smartphone? These products were unheard of five years ago, but now many people find they can't live without them. The iPhone 5 was unveiled last week, and will be available at Apple stores at the end of this week. They will be part of an estimated 674 million smartphones that will be sold around the workd this year, according to figures compiled by Credit Suisse.

One remarkable thing about all this is how receptive people are to high-priced smartphones. Back in 2010, less than 20 percent of all smartphones cost more than $500. Last year, that number was up to 25 percent, and this year it's expected that up to 28 percent of smartphones will sell for more than $500.

The biggest benefactors of this will be Apple and Samsung. Their iPhone and Galaxy brands account for a whopping 87 percent of the high-priced smartphone market.

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