Analysts revealed that global smartphone shipments hit record highs in in 2015 despite growth in the fourth quarter slowing to an all-time low.
Samsung reported a relatively sluggish fourth quarter, as was expected, and analysts said the company's troubles helped pave the way for Huawei to score the biggest gains in the world's smartphone market during the final three months of 2015.
Best Buy said flagging mobile sales were primarily to blame for a year-over-year drop in its holiday revenues, yet another indicator that the smartphone market is plateauing in the U.S. and other regions.
There's clearly a tremendous amount of interest in the IoT, and much of it is justified. IDC recently predicted worldwide spending on the IoT will reach $1.32 trillion in 2019, representing an impressive 17 percent compound annual growth rate. Other forecasts are equally optimistic. But the IoT must overcome some huge hurdles before it reaches its potential.
France's Orange unveiled plans to create a mobile-only bank under its own brand and has opened preliminary talks with France-based insurance company Groupama over a partnership agreement.
IDC predicted global wearable device shipments will hit 111.1 million units in 2016, a 44.4 per cent increase on the 80 million units it expects to have been shipped in 2015
IDC expects more smartphone vendors to follow Apple's lead by introducing device financing and trade-in programmes to stimulate shipments, as it predicted that 2015 would be the first year that growth in smartphone shipments slows to a single-digit figure.
Latest data shows that the market suffered an 8 per cent decline in shipments during the quarter to total just over 8 million units.
IDC tipped tablet shipments, including 2-in-1 devices, to decline 8 per cent in 2015, representing a notable increase from the research company's previous forecast of a 3.8 per cent drop.
IDC said smartphone shipments are expected to increase by 10.4 per cent in 2015 to 1.44 billion units. This is lower than the research company's previous forecast of 11.3 per cent year-on-year growth.