As per the recent survey was done by Gartner, India to account 62% of overall smartphone sales by 2018. This will be really a massive growth for the mobile market in India. The recent 4G rollout and Digital India movement have helped to achieve this landmark.
As per the report, due to aggressive 4G network rollout, the demand for smartphones is likely to keep growing in the coming years. The Indian mobile market is in the consolidation phase. Being the 3rd largest mobile market in the world, India will remain an attractive place for many smartphone makers. Many companies would like to grow their business shares here.
Global giant like Samsung, Apple etc. have already made their mind to increase their market shares. The leading Chinese smartphone makers are also not behind in this race. The companies like Huawei, Oppo, Vivo, Xiaomi and Lenovo have committed huge investment. They do not want to leave any chance to reap benefits from the emerging Indian market.
The Gartner research director Anshul Gupta is of opinion that the mobile sales in the major markets like US, China and Western Europe are going down. Due to this reason, India has become the second choice after China.
Indians are using increasingly using digital payment systems. Nowadays people are more open to pay online instead of using old methods. This is also a major reason for this huge growth.
The Chinese smartphone makers are the big threat for local brands. They have even reduced the share of Samsung in the Indian market. The Local brands like Micromax, Intex, Lava and Karbon are trying to launch budget devices to lure more customers. There are more than 100 brands currently present in the Indian market.
The firm has also reported that now users are willing to pay more to get phones with better features. This is just opposite to the trend of smartphones’ falling average selling price. Earlier the users were running behind the low-cost phones.