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The loan demands for smartphones have increased in Europe in 2021. What results would be in 2022?


smartphone on the table next to a man sitting with a cup of coffee in his hand

2021 has been a huge recovery year for Europe in the smartphone industry in comparison to last year. In the last couple of years, the pandemic has also affected this industry, leaving people without any phone updates and smartphone companies with fewer releases. 2021, however, has shown some signs of stability and interest in the market. There have been some great smartphone releases in the market and many people have been waiting for them for a few years now. And even though the pandemic has led us to have a lack of funds for new electronics or smartphones, many people got their new phones with loans. In this article, we are going to talk about how this market has changed from 2020 and what predictions do specialists have for the upcoming one.

Loan offers in the smartphone industry of Europe in 2021

The analysts of FoxyCredit have made studies to find out what are the results of the lending statistics for the smartphone industry of Europe for the current year. And the research shows that the numbers are almost the same in comparison to the previous year of 2020. However, there are some changes when checking the smartphone companies separately. For instance, in 2020 Samsung has sold almost 6% more smartphones than in 2021, with an increase of sales with a loan. Specialists in FoxyCredit assume that this was due to the fact that last year, Samsung has released one of the most talked-about phones in the industry, the Samsung Galaxy Z Fold2, and many people in Europe were eager to get it immediately, despite the lack of finances due to the pandemic.

Another smartphone company that had a huge hype this year was Xiaomi. They increased their smartphone sales almost two times more than in 2020. However, since this smartphone company is known for a mid-ranged price, the studies show that the loan percentage is almost the same as it was last year. It has increased by 1.5% only.

One of the newest and fresher companies that are getting a buzz in Europe was Realme. It is one of the companies that gained a quick hype around its smartphones being in a more affordable niche. Realme has become very popular among European countries, such as Russia, Italy, and Spain. According to the studies, Russia is the number one country with the increased loan requests for the sales of this smartphone.

Apple was third in the rank of the most sold smartphones in 2021, with a sales increase of around 5% compared to the last year. It is, however, a fact that the demand for loans to get the latest iPhone has increased significantly this year. Given the fact that the most anticipated iPhone 13 Pro max has one of the best camera features, many people want to get it even with a loan. The analysts stated that the loan demands specifically for this smartphone were increased by 17%.

What to expect in 2022?

candles forming 2022

Every year we cannot wait to see what new releases are there in the smartphone industry. The companies not only come up with design changes, new styles, and new colors but also deliver a huge range of features with each new smartphone. And since the competitiveness is massive, each company takes it very seriously to become the leading brand in the world and release the best smartphone of that time. This of course leads to higher smartphone prices, and due to the competitive market, it is a fact that the newer version of the phone has a higher price than the previous one. Therefore, many people still need to get loans to buy the smartphones they want. So what should we expect for 2022?

There are excellent releases in the coming year, including fresh designs from OnePlus, foldable phones by Oppo, and of course, the most anticipated smartphones from Apple and Samsung.

Samsung will release its S22 Ultra smartphone, being one of the most premium models of the brand. It is said that the phone will have a new camera setup. There are rumours that it will be more expensive than the latest releases of the brand, making the chances of loan increases higher than in 2021.

Every year in September, Apple releases a new iPhone to its users, and 2022 won't be an exception as well. According to the standards, the upcoming one will be iPhone 14. However, who knows what Apple has prepared for its fans. There will surely be new releases, including iPhone Pros, maybe minis, or even SE. One thing is for sure, this company definitely keeps the buzz in the market, and many people are waiting for the new release right after they sell the most up-to-date smartphone. It is also known that the brand keeps the same starting price for its phones. However, those who want to have the upgraded versions, with higher storage space, should pay extra, which can lead to having a phone worth around 2000$. Even though the prices are high, many people still want to get the latest iPhone even if it is by getting a loan.

We are living in a world where smartphones can do almost anything, from making phone calls to making payments. And every year, famous brands want to be one step ahead of their competitors and come up with something new and high-priced. 2022 will be a great year for the smartphone industry and according to the analysts loan offers specifically for smartphones will be increased by at least 21% compared to this year. And that is because of the upcoming phone releases that are going to happen in 2022.

Optimism! Happy New Year! 🎈

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