According to a new report by an industry analyst, the worldwide smartphone shipments will cross the one billion mark in the next five years until 2016.

The latest data released by research firm Juniper Research shows that the number of smartphones will rise from 302 million in 2010 to over one billion by 2016. This would mean an increase of almost 230 per cent in the coming five years.

The company said that it expects low cost smartphones that cost $150 or lower to make up almost a third of the whole number by 2016. On the other hand high-end smartphone sales will be derived by new technologies such as 3D and biometrics and mobile payment enablers. Open source systems such as Google’s Andoridn allow manufacturers to reduce the cost of the devices attracting more users to their devices.

Daniel Ashdown, research analyst at Juniper Research and report author, said: "In developed markets, many consumers will want to upgrade from a feature phone to a smartphone, but still pay a feature phone price. In emerging markets though, lower average consumer spending power and lack of operator subsidies will make a low price point essential."