The global shipment volume of smartphones grew by 2.9% YoY to 1.482 billion units in 2016. This growth rate is lower than that of 11.1% in 2015, suggesting the industry has entered the plateau. Among the different regions in the global market, the markets in Europe, North America, and China have all saturated. Nevertheless, the recent rise in per capita income, coupled with the ambitious R&D efforts of smartphone brands to boost product value, have driven the Chinese consumers to replace their low-end phones with mid- or high-end phones. This report provides an overview of the global and Taiwanese smartphone market and industry and an assessment from perspectives of the industry development and value chain; examines the industry's outlook, and the development of the top-five brands, including Samsung, Apple, Huawei, Oppo/Vivo, and Xiaomi, as well as the opportunities and challenges facing the industry and the market.