China topples United States in smartphone market

CHINA has pulled ahead of the United States as the world's largest smartphone market by volume, according to BBC News. The news comes in the same week as the Goldman Sachs economist Jim O'Neill claimed that China will topple America to become the top economic power by 2027.

O'Neill's predictions have already come true as far smartphone sales are concerned. Latest figures show that the shipments of mobile phones to China rose to a record 24 million phones during the third quarter, compared with 23 million for the US.

While deliveries to operators in China grew by 58 per cent during the period, those in the US fell by seven per cent, contributing to the market shake-up. According to research consultancy Strategy Analytics, the sector was also boosted by "a wave of low-cost Android models" from local manufacturers.

China is already the world's biggest market for mobile phones with almost 952 million users, but it is the first time that China has overtaken the US in the smartphone market by volume.

In his new book The Growth Map, O’Neill argues that the elite G7 group must reflect China's role as the second largest economy and prepare for a new order in which it will be the leading power. ·