Market Change Essay

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Introduction
The mobile phones industry is one of the fastest growing industries in the world. Recently, it has experienced a high rate of growth and development that has been catalyzed by advancements in telecommunications technology. One of the most recognizable developments in the mobile phone industry was the emergence of smartphones.
Smart Phones
These refer to the top-notch high quality mobile phones that are put up and assembled on complex mobile computing systems. Most smartphones have high computing abilities, easy connectivity and higher performances as compared to non-smartphones.
History of Smart Phones
Smartphones have undergone a series of development since their inception in 1993. Mennen believes that the first smartphone was introduced by Apple (Mennen, 1996). Apple introduced smartphones into the mass consumer market. Other manufacturers that followed suit include Nokia, Samsung, Microsoft, Motorola and Huawei.
Although the first smartphones mainly combined features of Personal Digital Assistants (PDAs) with those of ordinary mobile phones, the ultramodern smartphones that are currently released into the market by mobile phone manufacturers are more advanced and perform various complex functions that are almost similar to those of a mini personal computer (PC). They have in-built digital cameras, high-speed web browsers, media players, as well as Microsoft Office and photo editors. For example, the Samsung Galaxy tab has a high-resolution touch screen and it is capable of accessing the internet via Wi-Fi. Most smartphones permit transfer of data at very high speeds.
In addition, smartphones use complex, high performance Operating Systems (OS), such as Android that is developed by Google, Symbian of Nokia Corporation and Windows Phone developed by Microsoft. Similarly, some smartphones have additional applications embedded in their operating systems. These operating systems are highly developed and they are capable of being updated regularly. This helps in ensuring that the high performance characteristics of the smartphones are maintained throughout their useful lives.
Additionally, smartphones also have advanced Application Programming Interfaces (APIs) which facilitate the use of intermediary or the third-party applications. This allows for easy integration with other hardware and software other than those of the manufacturer.
Smartphones were initially developed for the enterprise use and were prohibitively expensive for ordinary consumers. According to Ilyas and Ahson, the development of smartphones begun with modest beginnings and grew into complex devices that could play high definition media files (Ilyas & Ahson, 2006). The smartphones industry has been characterized by stiff competition, innovative developments and pricing wars amongst the manufacturers. For instance, iPhone was launched in 2007 and since then, it has ensured customer loyalty through production of cheap smartphones. Its entry into the manufacturing of smartphones stiffened competition in the market.
Description of the Industry Model
The smartphones industry is oligopolistic in nature. An oligopoly is a form of market structure in which the industry is lead, controlled and dominated by a small number of producers or sellers. The sellers are few enough to know the actions of other industry players. Consequently, the decisions made by one seller in the industry affect the whole industry and at the same time are influenced by the actions of the other sellers. For instance, when developing strategic plans, the oligopolists must take into consideration the possible responses of the other industry players.
In my view, I consider the smartphones industry to be oligopolistic, because for many years it has been dominated by a few mobile phone manufacturers such as Nokia, Motorola, Apple and Samsung. These are the…