The study examines smart phone usage by millennials based on different criteria of operating system, Wi-Fi, text messaging, internet surfing and social media. The study used quantitative methodology and data were gathered with online questionnaires with 391 young smartphone users in Finland. The Millennial were clustered into five levels. The results reveal the prominent status of profiling in a developed market and how marketers in emerging markets can apply segmentation and targeting strategies using instant messaging, text messages, email, mobile app, gamification and social media based on the profile of each segment. Nigerian policy makers should adopt a framework to make smartphone affordable for people as it constitutes a goldmine for marketing professionals on their segmentation and targeting strategies.