The latest mobile phone technology from Keynote (2014) shows the true growth of the UK mobile phone market with nearly 80 million mobile phones established in 2013. Incredible growth demonstrates the ever-increasing role of smartphones in the UK, where devices are using advanced computing capabilities but predecessors . Now, the place for the latest handsets, like the Apple iPhone 6 and 6 Plus, offers more features, including high quality cameras, media players, gaming platforms, GPS mapping and fast 4G connectivity.
In order to meet these advances in technology, the use of satellite-based data monitoring and networking operators respond to offering faster 4G data service faster than the previous 3G speed. From April 2014, OfCom showed that about 12% of the population had used 4G services. We assume that there will be a major increase in the adoption of 4G mobile contracts as previous agreements end this year. This will mean growing interest in retirement agreements, as minutes, revenues and net permissions are tied monthly, allowing consumers to pay a fixed cost of enforcing allowances.
However, the market has also responded to this trend by offering consumers the choice of fixed and long-term contracts: cheaper 1 month contracts that allow the user to keep his smartphone and save money. Such developments could affect mobile vendors and operating results in the coming years.
Why will the UK mobile phone market continue to grow?
There are many factors that enable positive growth. Declining unemployment and national growth will increase consumer spending on the mobile phone. Increased interest in high value, high technology smartphones will hold an interest in such devices, thus driving the market further. And finally, the growing demand for fast 4G services will continue as devices continue to show innovation and better capabilities. Although in 2012, only one operator has characterized the 4G data market (EE). We are now seeing an increasing number of mobile phone companies that offer such data services to meet growing demand.
Impact of this growing industry on consumers?
Growing markets will inevitably lead to increased competition as retailers and networks try to capture market share. Such economic impacts are positive for consumers, as mobile phone prices are falling rapidly and postpaid and prepayments will continue to flow on the market and allow consumers greater purchasing power to find better skills. While new product and service innovations tend to begin with premium prices, consumers can usually expect to wait for competition to come and offer lower prices.
The future trend?
Research probably shows an increase in demand for surviving 1-month rolling contracts, where consumers seek to keep their mobile devices looking for better-value contracts that are more flexible than previous options. This will again affect their revenue targeting consumers with long term mobile phone contract deals.
Source by Will French