China, a country where 40 percent of households can afford a smartphone, is expected to double that number in five years as disposable incomes continue to grow, a new study said.
By 2017, 80 percent of China’s households will be able to afford a smartphone, according to research firm Research2guidance. Smartphones in China cost between 1,000 yuan ($157) and 2,000 yuan ($314).
Disposable incomes in the world’s largest smartphone market have risen significantly in recent years, with more households joining China’s middle class. That segment of the population earns an annual income of $8,500 to $60,000, and spends a third of its income on discretionary purchases, the study said.
In the first quarter of this year, China became the world’s first country to have 1 billion mobile subscribers.