Growth in China and a rush of cheaper handsets will see global smartphone sales reach the 1.05 billion by 2014 according to brokerage Credit Suisse.

The financial services company has backtracked from statements it made in January 2012 suggesting the smartphone market wouldn't reach this figure until 2015, claiming sales will rise 46 percent growth in 2012 to 687.9 million units.

That's a considerable jump from the 2 percent rise it predicted earlier this year.

Nokia to recover

As stated, Credit Suisse believes the trigger will be continued growth in the Chinese market, thanks in part to the releases of low-end handsets targeted at more budget conscious consumers.

In all, the firm states China will account for 22 percent of global sales by 2015.

In regards to manufacturers, the firm believes major winners over the next few years will be usual suspects Apple and Samsung, as well as Chinese manufacturer Huawei.

RIM in decline

Crucically, Credit Suisse also thinks Nokia will make a vital recovery following recent losses and regain 11 percent of the market share.

But it's not good news for everyone.

Credit Suisse believe Motorola, HTC, and Sony could struggle as the competition ramps up, with Blackberry manufacturer RIM in particular predicted to suffer a "rapid decline".

Meanwhile, wireless chipmaker Qualcomm is expected to see its business grow by 17 percent this year and raise its price target on stock to $80 from $70.

[source: Reuters]