Following my appointment to President of Sales, I am excited about the opportunity we have before us in 2019. With plans for MWC well underway and our next generation technology on the horizon, this year will mark an important occasion for us. We are seeing very strong growth in the water protected smartphone market (i.e. phones with some level of IPX certification). In the first three quarters of 2018 compared to the same period in 2017 we saw a 48% increase in shipments of water protected phones.
As we know on high tier devices, water protection has become a must-have feature and this has had a positive impact on the rest of the market. A lot of this growth has continued in the mid-tier market, with this market tripling in size from a year ago. Further, the majority of this growth can be seen in the lower-tier devices particularly in India and Africa, which has increased by a phenomenal 2000%! Consumers may not expect a lower tier device to have all the bells and whistles, but in today’s market, they do expect a degree of water protection. OEM’s don’t want costly mechanical seal solutions. P2i now offers a complete toolbox of #ProtectedbyP2i solutions which match our customers’ roadmaps allowing P2i to address the entire device portfolio providing our customers with significant and proven ROI and consumer-facing value propositions. We are delighted with our long-term strategic partnership with Motorola, our renewed relationship with Vivo, our exciting growth within Huawei and our rapid expansion in Xiaomi in China and India. As our next generation technology hits the market, we are excited for further success in 2019.