Alphabet’s (GOOGL - Free Report) division Google is firing on all cylinders to expand presence in the world of electronic gadgets, backed by innovative skills and advanced technologies.
Per reports, Google has confirmed that it will launch latest Pixel smartphones by mid-2019. The company is geared up to roll out new devices at the Google I/O 2019, all set to start from May 7, which in turn will aid in popularizing the device.
The latest move is in line with Google’s persistent focus on expansion of its portfolio of smartphones that comprises Pixel, Pixel XL, Pixel 2, Pixel 2 XL, Pixel 3 and Pixel 3 XL. The latest to join the queue is Pixel 3a and Pixel 3a XL.
Though much detail about these devices is not available, it is rumored that Pixel 3a and 3a XL will have respective codenames of Sargo and Bonito. Pixel 3a and 3a XL are said to come with a display of 5.6 and 6inch in size, respectively, and have a resolution of 1080p each. These devices will reportedly be powered by Snapdragon 670 processors and sport 12MP rear cameras.
The release of new devices will enhance the company’s product offerings and broaden portfolio. Further, these new phones will help Google to rapidly penetrate into the growing smartphone market.
Smartphone Market Holds Promise
In this data-driven world, smartphones are playing a significant role in day-to-day life by enabling users to get necessary and urgent work done via phones.
Growing penetration of internet usage globally is another factor that is bolstering the demand for smartphones on a constant basis.
Per a report from IDC, worldwide smartphone shipment in full-year 2018 was recorded at 1.4 billion. Although the figure declined 4.1% from a year ago, the market holds growth potential, thanks to its growing proliferation worldwide.
Courtesy of the updated version of Pixel phone, Google is well poised to cater to the ever-increasing demand for smartphones, especially in the emerging markets.
Given its growing smartphone portfolio, Google has strengthened its competitive position against major players like Apple (AAPL - Free Report) , Samsung and Xiaomi.
Samsung is currently leading the roster with its affordable range of smartphones having almost all advanced features. Its smartphone portfolio comprises premium range of phones that provide enhanced user experience.
Apple continues to ride on the popularity of iPhone and its brand loyalty. The company enjoys a loyal customer base for iPhone, thanks to its robust features and global availability.
However, the search giant entered the space much later compared with peers like Apple and Samsung.
Nevertheless, the company’s innovative skills, robust voice assistant and widely preferred Android operating system worldwide will continue to aid the advancement of Pixel phones.
Moreover, these factors will help it in gaining competitive advantage over Microsoft’s (MSFT - Free Report) Windows phone, which has been losing market share for quite sometime now due to Android’s open ecosystem feature.
We believe all these endeavors are likely to bolster the company’s presence in the rapidly growing smartphone market.
Zacks Rank & Stock to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold). A better-ranked stock in the broader technology sector is Ctrip.com International, Ltd. (CTRP - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Ctrip.com is currently projected at 23%.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>