A little more than a billion smartphones were sold in the first three quarters of this year, almost 22.85 million fewer than the sales in the first nine months of 2018.
Overall, 2019 will be the third consecutive year of declines for sales of smartphones globally. The industry is forecast to drop 1.4 per cent year-on-year to December 31, as per the figures compiled by International Data Corporation.
Here are the top five smartphones in the first three quarters based on the number of units sold globally, according to two independent industry watchers – London's IHS Markit and Singapore's Counterpoint Research.
iPhone XR
Apple’s strategy to sell affordable iPhones has worked. The company’s lower-priced iPhone XR remained the world’s best-selling smartphone in the first three quarters of the year.
Starting at Dh2,499, the company sold more than 32 million units in the first nine months of 2019. It significantly surpassed the previous best sales record of 30 million units for the iPhone SE (Dh1,466) in 2016. The company stopped making the SE in September 2018.
Industry analysts say by offering a low-cost base-model iPhone, Apple is trying to increase its appeal across a wider array of price bands, a strategy which competitors Samsung and Huawei have been following for years.
Galaxy A10 and A50
South Korean manufacturer Samsung sold more than 30 million units of its budget-friendly Galaxy A10 and A50 smartphones.
“Strong sales of the A series boosted the mobile division’s profit in the third quarter … along with improved margins for mass-market models,” said Osman Albora, head of the IT and mobile division at Samsung Gulf.
“A series has won a loyal clientele and we will keep adding more in the coming months.”
The A10 and A50 models start from Dh450 and Dh850, respectively.
Redmi 6A and Redmi 7A
China's Xiaomi, which went public on the Hong Kong Stock Exchange in July last year with a valuation of $54 billion (Dh198.3bn), is known for its affordable devices that draw comparisons with Apple and Samsung phones.
The company managed to sell more than 15 million units of its Redmi 6A and Redmi 7A phones in the first three quarters of the year. At less than Dh300, Redmi 6A went on sale in September last year.
The company’s latest model, Redmi 7A, managed to gain nearly 1.2 per cent of the global market share in the third quarter after its July launch.
iPhone 8
Apple saw a sharp dip of more than 14 per cent in sales, or more than 20 million fewer iPhones in the first nine months of the year. However, the iPhone 8, which was launched in 2017, continues to be one of the best-selling smartphones for tech giant. The company sold more than 13 million units during the first three quarters of 2019.
Oppo A5 and A9
Oppo’s low-end A5 and A9 phones, starting from Dh850, were the company's best-selling models this year. Together they grabbed nearly 3 per cent of the global market share in the third quarter.
Oppo, which started selling smartphones globally in 2008, is expanding into new markets in the Middle East and Western Europe.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Jurassic%20Park
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
MATCH INFO
Schalke 0
Werder Bremen 1 (Bittencourt 32')
Man of the match Leonardo Bittencourt (Werder Bremen)
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
