Growth in global smartphone shipments is expected to fall "sharply" this year and keep dropping through around 2018, according to a report by Reuters.
The fall has been predicted as demand shifts to China and other developing countries, according to market research firm IDC.
Annual growth during this year is expected to be approximately 19.3 percent and then drop to around 6.2 percent by 2018.
In 2013, smartphone shipments reached 1 billion units for the first time, a 39.2 percent jump compared to the previous year.
Multiple Wall Street forecasters claim the explosion in smartphones that started with Apple's iPhone back 2007 is slowly coming to an end, at least in the United States.
Smartphone growth in Europe and North America will drop to "single digits" and Japan is expected to see a slight slowdown in shipments by 2018 as well, according to IDC.
Companies are now focusing on China where many people are switching from basic cellphones to smartphones that are sold for under $300.
"New markets for growth bring different rules to play by and 'premium' will not be a major factor in the regions driving overall market growth," IDC analyst Ryan Reith said, according to Reuters.
The average price for a smartphone device in 2013 was $335, below flagship devices such as the iPhone 5S or Samsung Galaxy S4, and will drop to approximately $260 by 2018.
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