Smartphone revenue in the last quarter of 2015 stalled and during 2016, it will probably remain the same way, according to a report from research firm GfK. In the firm's Quarterly Smartphone Tracker report, GfK reports revenue from phones in Q4 fell by .2% year-over-year to $115.2 billion. Though, the number of handsets sold was up by 6%, reaching 368 million.

Growth varies significantly by country and the revenue from each market also varies. India, for example, saw a huge boost in phone sales during Q4 at 34%, but most of those sales were for phones under $100. Whereas in North America, where sales were down, many sales were for expensive devices like the latest iPhone.

GfK predicts the rest of the year will see a continuing trend of a rise in cheap smartphones and the number of phones sold will modestly increase, going from 1.308 billion in 2015 to 1.4 billion in 2016. Revenue, on the other hand, will be flat with a growth rate of .5%, which will bring it to $401.3 billion for the year.