How the Smartphone has impacted economic Development

The latest and state of the art mobile phone technology used in smartphones can surely leave one dazed and amazed. It has certainly revolutionized the global market of technology and impacted it in a major way. It also has a big role to play in economic development in this day and age. There are countless benefits of smartphones in society which is the reason for the increase in their demand.  

Smartphones and Business 

5G smartphones development has increased rapidly in the past few years. It is difficult to answer how many people have smartphones. The more people use smartphones, the more increase in its demand will be seen. As the demand is increasing mobile phone and accessories manufacturing has become one of the biggest industries in the world, and it is a major part of the global economy. More people will be required to develop the software and to perform other manufacturing tasks, which will ultimately increase the number of jobs.  

App Economy 

App Economy has seen the biggest boom in the past few years. The more mobile phones people are using the more they are indulging with the new and latest apps. There are many apps available for different purposes and for different people. Of course, the development of new apps need modern technology and talented developers. According to research, App Economy created around 500,000 jobs as early as 2012. Now the number of people who are being employed for this purpose is unimaginable. 

Communicate and Collaborate 

One of the major benefits of mobile devices in business is the ability to be able to communicate with ease. We all know that now a days most of the business is done globally with the help of mobile technology. The impact of mobile devices on the way we used to do business is quite big. With the latest mobile devices, you can easily communicate with people all around the world. It is also pretty easy to collaborate with your business partners or employees on mobile phone video calls, no matter where in the world you are. This has increased the growth of business and economy globally.  

Excess Capacity 

Excess Capacity is an economic term which means capital or other underutilized assets. The one big example of this is Uber or other cab services. You have many cab service apps on your phone which you can easily access these apps with just your mobile phone. This has affected the cabs severely but also has created a number of employments for the other people. Anyone who has a fully functional car in a good condition can register on these cab service apps and start earning. These apps are generating a big amount of revenue every year.  

 Lower Barriers to Entry 

Thanks to mobile technology, you can very easily enter the world of business and start generating revenue with just the help of a mobile phone. Now you don’t need to have a number of labor and researchers to get into the business. With just an idea, you can learn all the things about it or hire a programmer to get things done. You can then use the platforms which are built by Apple, Microsoft, or Google, to distribute your software solution or idea to the global market.  

Bottom Line 

It is pretty visible that the life before and after smartphones is not the same at all. With the great mobile phone technology, you can now run your own business and earn money online with ease. Not many people know when did smartphones come out, but everyone knows the impact of mobile devices in our daily lives. So, if you are looking to buy a great smartphone for yourself then make sure to visit OPPO Store and choose from a wide collection of best quality phones.