Smartphone-s became really interesting only from the moment when the first model of iPhone was launched on global markets, incorporating many functions offered by separate products. We are talking here about cameras, video cameras, MP3 players, or GPS navigation systems, all of which will be lost due to the popularity of smartphones.
According to those from Statista, among all the electronic products that recorded massive decreases in sales, for MP3 players there is the biggest decrease, sales falling by 87% in 9 years. See below that we are talking about a drop in annual sales from $6 billion in 2007 to $800 million in 2016, Apple rightly fearing in 2007 that this would happen.
Apple launched the iPhone because it knew that MP3 players would lose their popularity, and they were right, but the same thing happened with GPS navigation solutions. In their case, sales decreased by 80%, percentage wise, from 2.3 billion dollars annually in 2007 to 500 million dollars annually in 2016.
For video cameras, we have the largest percentage decrease, of 93% in sales, but in reality we are talking about a decrease from 2.1 billion dollars to approximately 200 million dollars annually. Digital cameras have also seen a substantial decrease in sales, from approximately $6.5 billion annually in 2007 to $2.3 billion annually in 2016.
It was normal for these things to happen since a smartphone offers you these functions in a compact format, and other industries will have the same problems.
