The number of smartphone shipments will approach 1.2 billion this year, an increase of 19 per cent from 985 million in 2013, according to latest forecasts by Juniper Research. Growth in emerging markets is expected to drive this growth, due to a continued surge in sales and adoption of low-cost economy ($75-$150 /€58-€116) and ultra-economy (sub-$75) smartphones. The research company notes that emerging markets are now vital to success in this sector, with the gap between the growing emerging markets and the stagnating mature markets closing. While Apple and Samsung continue to dominate the ultra-premium end of the market, these vendors are facing significant pressure from local players in the emerging markets. For example, Xiaomi, the Chinese smartphone vendor, is witnessing tremendous success in China and India as a result of its aggressive price-point offerings. Release