The advancement and popularity of smartphones have made it an essential and all-purpose device. But lack of advancement in battery technology has held back its optimum potential. Therefore, considering its scarcity, optimal use and efficient management of energy are crucial in a smartphone. For that, a fair understanding of a smartphone's energy consumption factors is necessary for both users and device manufacturers, along with other stakeholders in the smartphone ecosystem. It is important to assess how much of the device's energy is consumed by which components and under what circumstances. This paper provides a generalized, but detailed analysis of the power consumption causes (internal and external) of a smartphone and also offers suggestive measures to minimize the consumption for each factor. The main contribution of this paper is four comprehensive literature reviews on: 1) smartphone's power consumption assessment and estimation (including power consumption analysis and modelling); 2) power consumption management for smartphones (including energy-saving methods and techniques); 3) state-of-the-art of the research and commercial developments of smartphone batteries (including alternative power sources); and 4) mitigating the hazardous issues of smartphones' batteries (with a details explanation of the issues). The research works are further subcategorized based on different research and solution approaches. A good number of recent empirical research works are considered for this comprehensive review, and each of them is succinctly analysed and discussed.