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The global smartphone market has grown exponentially over the last decade, with shipments reaching more than 1 billion units last year, far exceeding that of computers, which dropped to 285 million.
Mobile internet use on smartphones has spread to almost every corner of the world. According to “The Mobile Economy 2023” report by GSMA Intelligence, a mobile industry research company, the number of global mobile internet users had reached 4.4 billion by the end of 2022. In addition, mobile technologies and services have created US$5.2 trillion in economic value, contributing 5 per cent to the world’s gross domestic product (GDP) and generating 28 million jobs.
As mobile internet use has transformed the lives of millions of people, companies ranging from multinational tech companies to ambitious start-ups have come to realise the valuable role the platform plays in marketing and building brands. Content providers – whether filmmakers or animators, entertainers, or sports and news channels – must now consider the smaller screen size in their content production operations.
In addition, the popularity of mobile games has attracted millions of users globally, helping drive the rapid growth of consumer electronics and hardware technology. Meanwhile, individuals are now accustomed to using an app to resolve day-to-day needs such as booking a table at a restaurant.
The presence of global tech giants on stock markets or start-ups seeking IPO listings in major markets such as New York and Hong Kong suggest there is still potential for growth in the mobile internet industry.
Nevertheless, smartphone manufacturers are often an undervalued player in the industry. Smartphones are often considered as digital infrastructure, with the only function of carrying information, while smartphone manufacturers sell the device. But this is quietly changing.
In fact, smartphone manufacturers handle the entire operating system, and in a sense, manage more traffic than any single app. Importantly, whether it is application distribution, content provision or advertising and marketing, smartphone manufacturers are capable of mobilising the technical support and optimisation of the entire operating system to achieve optimum delivery, allowing partners and end users to truly enjoy their respective return on investment.
While smartphone manufacturers may not yet be considered core players in the mobile internet field, they are preparing for future growth.
Xiaomi, one of the world’s biggest manufacturers of consumer electronics, has established its “2024 International Internet Partner Growth Strategy”, which it revealed at the Mi Internet Partner Conference that it hosted earlier this month in Singapore.
The event attracted more than 300 attendees from 30 countries, and included Xiaomi’s internet business partners and clients as well as representatives from advertising and app development sectors. It included presentations on how Xiaomi’s application distribution could help developers gain sustainable growth in end users, as well as how its digital marketing solutions implementing user lifecycle and artificial intelligence-driven strategies could help drive growth.
With the rapid development of the digital economy, market demand has become more diversified, and the competitive landscape continues to evolve.
Digital marketing technology brings new voices and influence to brands, while also bringing an excessive amount of information and noise to consumers, which may influence their interests in a brand or take them on a dynamic consumer journey. Even the consumption hotspots of the mobile internet market are constantly changing.
In this fluid market, Xiaomi, which claims to have more than 606 million monthly active users on its smartphone operating system, believes its internet services are committed to providing customers with ongoing value, helping to effectively connect brands, services and end users, which it aims to use to further grow opportunities with its partners globally.
