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Smartphones are the personal computers of the 21st century. The performance and functionality of the device, the performance and capacity of cloud-based servers, and the
bandwidth of 4G cellular networks have created a $100B market in the developed world. Smartphone shipments are expected to grow 32.7% year over year in 2013 reaching 958.8 million units. The market for high-end phones, dominated by Apple and Samsung, will continue to grow at ~8% CAGR, but the next surge in growth will come from mid-range phones ($200 to $400), and low-end phones priced below $200. These segments are expected to experience ~15% CAGR according to analysts.