The demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. Also, the current buyers of flip phones are mainly categorized under laggards. Which of the following stages of the industry life cycle is the flip phone industry in currently?
A) growth stage
B) maturity stage
C) decline stage
D) commercialization stage

Question

Quizplus · Accepted Answer

Flip phones are in the decline stage of the industry life cycle. Changes in the external environment often take industries from maturity to decline. In this final stage of the industry life cycle, the size of the market contracts as demand falls.

The Demand for Flip Phones Has Drastically Reduced, and There