Meaning of the word "on the market" in English

What does "on the market" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

on the market

US /ɑn ðə ˈmɑr.kɪt/
UK /ɒn ðə ˈmɑː.kɪt/
"on the market" picture

Phrase

available for sale

Example:
The house has been on the market for six months.
There are many new smartphones on the market.