The report finds that global mobile phone market volume reached 1.96 billion units in 2016 and is estimated to grow by 0.5% to nearly 2 billion units in 2017. The market has dropped to single digits, representing that the market goes through a plateau period. On top of that, MIC predicts that the combined share of smartphones priced at USD300 or below is estimated to hit over 60% in 2017 with most of them running on Android.