If you have noticed, we share the news of a different smartphone brand with you every day. Apple, Samsung, Huawei etc. Manufacturers are among these brands, but there may also be brands you have heard of for the first time. Especially in the market of former India, now known as Bharat. But most of these brands go bankrupt before even launching their second model. Here are the smartphone brands that went bankrupt in the last 6 years and the common reasons for their collapse…
Why did 500 smartphone brands go bankrupt?
We all know that major phone manufacturers such as LG and BlackBerry have withdrawn from the market. But these are just the tip of the iceberg. At the back there is a huge cemetery with 500 brands. How come these brands are suddenly declaring bankruptcy? An independent research company looked into this issue and came up with some findings.
Counterpoint Research revealed that over 700 active smartphone brands in 2017 have dropped to almost 250 in 2023. Unfortunately, Counterpoint noted that this decline was almost entirely due to “local brands.” He added in his report that the number of global brands consistently remains above 30.
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The report specifically pointed out brands that were closed in India (Micromax, Intex, Karbonn), Middle East and Africa (Injoo and Xtouch), China (Meizu, Meitu, Gionee and Coolpad), Japan (Kyocera and NEC) and Korea (LG). It is worth noting that some of these brands listed are available worldwide (LG, Kyocera) or have been acquired by a larger brand (Meizu and Meitu).
In this case, it should be noted that when we look at the list of bankruptcies, we actually always see the names of small companies. When we look at the devices that brands put on the market, we see that there is no need to say much. The devices are either extremely similar to each other and produced by the same manufacturers, or they are among the models that cannot keep up with the times. This actually gives us the whole answer.
In short, instead of being different, original products that appeal to customers on different issues, they launched devices with different designs from the same manufacturers and brought their end to the market. This report actually serves as a lesson to other manufacturers. So what do you think? Don’t forget to express your opinions in the comments section…