Statistics do not lie, but then again, they can be interpreted in their very own way. Here we are with word that China’s growing middle-class alongside the availability of cheaper and more affordable smartphones might eventually result in 80% of China’s households being able to own a smartphone by the time the year 2017 arrives. We are talking at over a billion smartphones here considering China’s population by then, at least according to research2guidance estimates.
80% of China’s population by then will belong to a middle-class household range, and when you couple that with continuous increases in household purchasing power and a surge in 1,000 Yuan handsets by major local players, then such an “achievement” is certainly very realistic. China has been the world’s largest mobile market for some time now, and in the first quarter of the year, China was the first country in the world to hit one billion mobile subscribers, clearly overtaking the US by a considerable margin.
Basically, if you are into business, tapping into the vast market in China is the way to go if you want to increase your coffers.