October 18, 2023 /SemiMedia/ -- Murata Manufacturing President Norio Nakajima recently stated that the global smartphone market has passed its trough and will rebound this year.

Norio Nakajima said the global smartphone market is likely to see single-digit percentage growth in volume in the current fiscal year ending in March and the next fiscal year, driven by low-priced smartphones in India, Southeast Asia and Africa.

Norio Nakajima said a key driver will be 5G penetration and demand growth in India, which this year surpassed China to become the world's most populous country. Although Apple's iPhone business has made progress and CEO Cook has expressed plans to expand the company's business in India, the Indian market is currently dominated by Android devices.

Norio Nakajima also said that China is already one of the countries with high 5G adoption rates, so replacement demand is not expected.