Every fifth person on Earth already has a smartphone. The majority of these people live in economically developed countries. For example, people in the United States own 13 percent of all the smartphones in the world while only accounting for 4% of the global population. At the same time, India, with a population of 1.27 billion, has just 63 million smartphones, a mere 5 percent penetration. This is changing fast. With a 50 percent annual growth rate in smartphone ownership, India is expected to overtake the States in the total number of smartphones by 2016. China already has. Many other countries — such as Russia and Brazil — are closing in. While smartphone penetration in the emerging economies has been relatively low so far, the adoption of new smartphones in these countries is significantly outpacing that of the Western markets.