The number of mobile phone manufacturers is rising fast, and the mobile phone market has been hit by a slowdown in demand.
The average monthly revenue for smartphone makers fell to $2.6 billion in the fourth quarter from $4.1 billion in Q4 2016.
The decline was driven by the slowdown in smartphone shipments, which fell 7% year-over-year to just over 7 million units in the first quarter of this year, according to Gartner.
The company expects the market for smartphones to continue to grow over the next three years, as smartphone manufacturers continue to expand and upgrade their existing phones, according.
Mobile phone prices rose 7% in the last quarter, but that is largely due to lower prices for the entry-level phones, which saw their price fall by 9% year over year.
The biggest reason why the smartphone market fell was the decline in new smartphones.
The global smartphone market was worth $6.4 trillion in the third quarter of 2016, according Google, up $1.3 trillion from the same quarter last year.
However, that was due to a drop in shipments of smartphones, which decreased 9% from the first three quarters of this last year, Gartners research said.
Read moreMobile phone makers are still growing, but with a lot of uncertainty around the future of their business.
They have been making more phones, but they are still struggling to keep up with demand.
While the demand for mobile phones has been growing, demand has also been slowing down due to the impact of a weaker global economy, and slower growth in China, which accounts for more than 80% of global smartphone shipments.
China’s smartphone shipments fell 2% year to date, according a report by research firm Garters.
“While the smartphone industry continues to experience the biggest market disruption since its inception in 2010, we are seeing a recovery in smartphone growth and are seeing the number of new smartphone orders rising year-on-year,” Gartens research said in its report.
“The key to the mobile smartphone industry’s success is its ability to deliver value and maintain growth in its markets.
We believe this recovery in demand can be accelerated by the industry’s continued development of advanced and new products.”