The smartphone business is not growing anymore, according to this year's edition of Mary Meeker's acclaimed annual tech industry report.
The Little Perkins Partner gave her latest presentation on Wednesday at the Code 2018 Conference. The results of Meeker and her team indicated a general trend towards slowing growth on the Internet.
The delivery of new smartphones did not show any growth in 2017 compared to the previous year, she said. With more than half of people using the Internet, user growth has dropped from 12% to 7%. Meeker said internet usage was still solid – 4% yoy – but the industry is still facing a challenge.
"The reality of all for business people in the room, when you enter a market, when you reach 50% penetration, new growth will be much harder to find," said the venture's venture capitalist.
Another interesting aspect of Meeker's presentation was the fact that easy-to-use apps take over, whether that's in messaging, commerce, or media. This focus on the user experience has an impact: "As payments continue to worsen, products like messengers and mobile payments are increasing dramatically and digital currencies are emerging," she said.
Meeker said data-driven personalization is the key to improving these user experiences, but of course there is a downside to privacy.
"Internet companies are partly making lower-price services better from user data Internet users are increasing their time on perceived value-added Internet services Regulators want to ensure that data is not misused and not all regulators think in the same way about it, "she said, nodding to the new General Data Protection Regulation (GDPR)