The volume of South Korea's mobile phone exports in 2018 slumped to its lowest level more than a decade-and-a-half.<br />Analyst put it down to an increasingly competitive global market,... especially with some Chinese tech firms muscling into the sector.<br />Lee Seung-jae reports. <br />South Korea's tech giants continue to provide consumers with the latest and most powerful smartphone technology,... a necessary measure to stay ahead of the game in the cutthroat mobile market. <br />In November, Samsung Electronics unveiled its first foldable phone,... that can be used as a smartphone and a tablet.<br />But despite the companies' technological advances and focus on innovation,... the Ministry of Science and ICT says South Korea's mobile phone exports slumped to a 16-year-low of 14-point-6 billion U.S. dollars in 2018,... down more than 23 percent from the year before.<br />Experts say the slump could be due to the general slowdown of the global smartphone market,... and an increase in overseas production and parts procurement. <br />Last year, global smartphone shipments topped out at one-point-four-four billion units, down five percent from a year ago.<br />South Korea's market share also dipped in overseas markets. <br />While it improved slightly from 2017 to the first quarter of last year,... it has since decreased.<br />Experts point to increased competition by Chinese companies like Huawei and Xiaomi.<br /><br />" Global smartphone demand dropped last year due to a lack of innovation. Demand is unlikely to increase this year, as the general situation is not good, and competition will only intensify..."<br /><br />With a narrowing technology gap with China,... local experts say developing innovative smartphones based on 5G technology,... and strengthening related ventures and R&D will positively affect demand for South Korean smartphones in the future.<br />Lee Seung-jae, Arirang News. <br />
