The era of power banks is ending: Anker CEO makes a surprising statement

Anker Innovations founder and CEO Steven Yang stated that the power bank market could disappear entirely in the future. The executive cited the fate of MP3 players, cassette players, and CD players as examples. According to him, most consumer electronics categories last about ten years from mass adoption until they leave the market. This is reported by Ixbt.com reports .

Although Anker has long been associated with power banks, the company is now less dependent on this segment. By the end of 2025, Anker's revenue increased by 23.5 percent, reaching nearly $4.2 billion. While charging devices and energy storage systems accounted for half of the revenue, traditional power banks are no longer the primary source of income.

In the first quarter of 2026, the company's revenue reached nearly $1 billion, though net profit declined slightly. Previously, company representatives admitted that an overly broad product range had negatively impacted quality control. According to reports, in 2024 alone, there were about 100 different power bank models in the company's lineup.

In Steven Yang's view, the future of the market will be determined by the development of batteries within smartphones and other mobile devices. If the autonomous operating time of gadgets continues to increase, the need for separate external batteries will inevitably decrease sharply.