Smartphone sales estimated to surpass 1 billion by 2014

Credit Suisse estimates that annual global smartphones sales will surpass 1 billion units in 2014, Reuters reported on Thursday. Global sales are predicted to grow nearly 46% to 687.9 million units this year, and then to reach 1.05 billion units in 2014. The growth is said to be fueled by strong demand in China and the launch of cheaper low-end handsets. “We see robust growth for the smartphone market in China, which we think will account for 22 percent of global units by 2015,” Credit Suisse analysts including Kulbinder Garcha wrote in a note. The firm expects Apple to make large gains in an environment where the “success in smartphones will be impacted by success in PCs and tablets.” The Cupertino-based company is estimated to capture 23% of the market this year, and Samsung, Nokia and Huawei are each expected to gain share as well.

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