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Product: Smartphone

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Demand Factors:
1.Increase in Taste and Preference
2.Increase in price of supplementary goods
3. Decrease on Buyers income
4. Price of related Goods
5.Expectation of future price
Supply Factors
1.Increase in number of supplier
2.Improvement in technology

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Market Equilibrium: 5G Smartphone Market: Most realistic view of current 5G market

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1.Few sellers
2.High barriers of entry (Large economy of Scale)
3.Price maker (Samsung, iPhone etc can set their own price)
4.Limited access to industrial information (Nobody knows when iPhone 13 will be releasing)
5. Substitute for one another, base on taste and preference

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Introduction/Background History to smartphone 

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Introduction/Background History to smartphone 

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The first smartphone, Simon Personal Communication (SPC), was released in 1994,. Its function includes touch screen, email, fax, notes and calendar, applications. It had a low-life battery, expensive call rate, and was thrown out of the market within a year.
The second smartphone, BlackBerry, came out and over took SPC. It remained popular until iPhone came out.  It was eliminated by its competitors in 2017.
2007, iPhone launched out and became widely popular.
Now, the smartphone market is becoming more and more competitive, and with better technology, competitors are trying innovate better functions for their brand to continue growing. With better technology,  each brand is able to better advance new model to the market and attract more consumers. Smartphone market is now a highly competitive and elastic market.

-oligopoly

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https://www.theverge.com/2019/12/12/21019667/apple-iphone-china-us-trade-war-trump-deal-reached-price-hike
Apple is the main big name in the world of smartphones, so here we will take a look at Apple. As mentioned in the article, Apple is the main benefactor of USA's trade deal with China. In the trade deal, Donald Trump agreed to significantly reduce America's tariffs on Chinese goods that are worth about $360 billion altogether. Therefore, with that, Apple managed to escape from being hit with a 15% tariff on their products which includes the iPhone, iPad and MacBook.

-impact on demand for smartphones
-cost of production, use equations
-just be very specific about everything

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https://phonemantra.com/samsung-confidently-leads-the-new-5g-smartphone-market/
Samsung company recently had a hit on the latest 5G tech phone. It had also found a way to reduce the cost of making 5G tech phone. Quote"However, it was Samsung, in the assortment of which far-priced smartphones with support for fifth-generation networks are still presented, that was able to lead the new market.". Thus making its product relatively cheaper to that of the current 5G phone companies: Huawei, Xiaomi and VIvo. This is a major impact to the current 5G smartphone market as the 5G smartphone market is somewhat of a Oligopoly market. with each company holding more than 10% of the market share. The sudden low price has caused a popularity in 5G smartphone, thus demand will start to increase. This falls under the demand category:  Increase in taste and preference. Quote"As the starting price decreases, 5G smartphones are gaining more and more popularity". Therefore, it will cause a shift to the right in the demand curve. the newcomer, Samsung has caused an increase in the supply of the number of 5G smartphone, as the the number of sellers has increased and the supply curve will shift to the right. It was also told in the article that iPhone is also going to emerge with the 5G  smartphone, making competition in the 5G market even more intense.  So far, Samsung has the largest share of the market with over 34.4% of the market share. In an Oligopoly market, it is normal for the supply to be produce lesser the expected as the seller wants to increase the price of the 5G smartphone via reducing supply.  This could happen to the current 5G market as the 5G smartphone price has declined due to the decrease in the price of Samsung 5G smartphone being the cheaper one compared to them. Samsung has shipped more 5G products than its competitors, meaning Samsung wants to supply increase more than its expectation, causing the price to decline even more. This will make competition even harder for Samsung's competitors. This could be due the fact that Samsung was better at producing 5G smartphone with cheaper cost. However, the price of the most expensive 5G Samsung smartphone:Galaxy S20 Ultra 5G , and Huawei product: Huawei P40 Pro 6.58, was around $1700
(Huawei
https://www.google.com/search?q=huawei+5g+phone&source=lnms&tbm=isch&sa=X&ved=2ahUKEwi_s87wr7DqAhUIXSsKHdyYCN4Q_AUoAXoECBAQAw&biw=1280&bih=648
Samsung
https://www.google.com/search?q=samsung+5g+phone&tbm=isch&ved=2ahUKEwiR4srzr7DqAhWDJHIKHX23CdYQ2-cCegQIABAA&oq=sa+5g+phone&gs_lcp=CgNpbWcQARgAMgYIABAHEB4yBggAEAcQHjIGCAAQBxAeMgYIABAHEB4yBggAEAcQHjIGCAAQBxAeMgYIABAHEB4yBggAEAcQHjIGCAAQBxAeMgYIABAHEB5Q1L0EWLPABGCtogZoAHAAeACAASOIAUSSAQEymAEAoAEBqgELZ3dzLXdpei1pbWc&sclient=img&ei=U8X-XtHsE4PJyAP97qawDQ&bih=648&biw=1280). This shows that Samsung had the most expensive product among its competitor. So the reason for it being able to ship more than its competitor should be due to its popularity among many smartphone users.

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https://www.computerworld.com/article/3342478/smartphone-makers-are-pricing-themselves-out-of-the-market.html
The article is written about the growth of smartphones in 2018. Stating that they are pricing themselves out of the market. even though, there is an increase of 1.2% in global sales for smartphones,  it showed that in North America, Asia/Pacifc and Greater China (mature regions) had a decline in the sale of smartphones.
in the last quater of 2018, Apple had a hugge decline in demand (besides in North America and Asia), With the competition from Chinese Brands like Huawei with their sales increasing by 37.6%; Samsung's direct competitor where "they are selling 10 times more than of Samsung.

"Apple's challenge is that it only offers high-end smartphones, and those devices aren't delivering the same, compelling new features they once did. And some users are finding they don't use all of the features high-end smartphones have."

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https://www.counterpointresearch.com/global-smartphone-sales-show-resilience-14-decline/

The article describes the decrease in demand for smartphones during the corona virus pandemic.

With the Covid-19 pandemic that is occurring worldwide, sales in the smartphone industry has been showing weakness which results in the decline. This is mainly true for smartphone companies that have exposure to the Chinese supply chain and market demand. Many people try to avoid those companies as they fear of getting infected themselves.

Although the pandemic is causing a decline in the smartphone industry, people believe that the pandemic is only causing a delay in the sales of smartphones. This is due to how times have changed, causing smartphones to be part of our daily lives. Thus i near future after the pandemic, many people are certain to start buying smartphones again.

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https://9to5google.com/2020/05/01/smartphone-sales-coronavirus-impact-report/
Quote "Cutting right to the chase, smartphone shipments fell by 272 million units in Q1 of 2020, down 13% from Q4 2019."
The recent COVID pandemic has decrease the sales of smartphone, meaning that the demand has drop tremendously.
Quote " people just aren’t spending their money on new smartphones in these uncertain times."
From the following information, people hands are tight, meaning that they have limited cash to spend.  Because of COVID,  the unemployed rate increases and directly caused buyer income to drop. This then cause the demand of the smartphone to drop and therefore the sales drop.  This scenario falls under the demand factor: Buyers income. This also shows that smartphone is a normal good: when buyer income decreases, smartphone sales drops.

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Demand Factor: Expectation of Future Price

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Demand Factor: Expectation of Future Price

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https://appleinsider.com/articles/20/06/01/apple-supply-chain-gearing-up-for-iphone-12-production-in-july
Apple is releasing new smartphone products: iPhone 12 and iPhone 12 Pro Max. This news caused many iPhone buyers to wait anxiously for them as they want to try out one of the few latest technology in the smartphone market. Such expectation will lead to the price of the good to be at its top like how iPhone 11 was first released at the price of over $1000 Singapore dollar. More consumers, on the other hand, are waiting for the heat of the product to drop so as to buy it at a cheaper price. Nonetheless, The Apple industry profit from these new products will increase at a tremendous rate after its released.

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1.Andrew, O. (n.d.). The History and Evolution of the Smartphone: 1992-2018. Retrieved May 22, 2020, from https://www.textrequest.com/blog/history-evolution-smartphone/
Smartphone sales see biggest drop ever amid coronavirus - 9to5Google. (n.d.). Retrieved July 14, 2020, from https://9to5google.com/2020/05/01/smartphone-sales-coronavirus-impact-report/
Latest Mobiles / Latest Smartphone Launches: New Mobiles: Technology News. (2020, May 13). Retrieved July 14, 2020, from https://phonemantra.com/samsung-confidently-leads-the-new-5g-smartphone-market/

https://en.chinaflashmarket.com/news/view?id=13516