MIC (Market Intelligence & Consulting Institute), a Taipei-based ICT research institute, forecasted that the worldwide smartphone shipments will only see a single-digit growth of 8.9% in 2016, as the worldwide smartphone market has entered the plateau of growth, reported Economic Daily News on November 3. "Flat growth in volume with constant price decline" will be the new normal for the industry, said the institute. Smartphone shipments are projected to reach 1.43 billion units and 1.56 billion units in 2015 and 2016, up 10.6% and 8.9% year on year respectively. ASP (Average Selling Price) is expected to fall from US$313.3 this year to US$295.8 in 2016. As for shipments by brand, MIC said that the top five vendors in 2015 are expected to be: Samsung (320 million units), Apple (230 million units), Huawei (100 million units), Lenovo (75.9 million units), and Xiaomi (67.9 million units).