Wednesday, July 11, 2012
Mobile market takes off in South Korea
As reported in the Korea Joongang Daily today, the mobile market here is taking off. However, the headlines are a bit misleading, suggesting that "Smartphones evolve into niche industries." In reality, we are witnessing a far broader and more fundamental mobile revolution, predicted by McGuire's Law, the so-called "law of mobility" which states that "the value of any product or service increases with its mobility." In the current transformation here in Korea, and around the globe, broadband internet is going mobile. As shown in the accompanying graphic (click to see a full size version) the number of smartphone users in Korea is expected to grow to 34.8 million people by year's end. As the number of users grows, so does the mobile advertising market. Also, as reported in a separate article, a survey by the Korea Communications Commission showed that 47 percent of smartphone users said they now regularly shop using their mobile phones.
Posted by James Larson at 8:46 AM