With more than 300 million smartphone users, India has overtaken the U.S. to become the fastest growing smartphone market in the world. According to Netscribes research, smartphone shipments in India will reach 210.53 million units by 2020. What’s driving this growth? We take a closer a look.
Rising mobile internet usage
India has a large internet user-base, with a majority being mobile-only internet users. Driven by the ever increasing social media consumption among the young Indian population, the country’s mobile internet subscriber base is expected to reach 448.6 million by 2020. The rollout of 4G networks and availability of low-end 4G devices has further supported smartphone adoption in India.
The continued entry of new smartphone companies has led to aggressive price competition, and has increased the affordability of smartphones in India. Chinese vendors’ access to low-cost components and their expertise in designing metal casings for budget phones has allowed brands such as Oppo, OnePlus and Lenovo to offer premium-looking products at low prices.
Smartphones get smarter and better with every flagship phone launch. Features such as high speed internet connectivity, high processing speed and multi-tasking features have become the norm, and have made app-based services readily accessible. All these benefits have collectively pushed growth in the smartphone market in India.
Several foreign companies have realized the opportunity in India for smartphone devices. These companies are increasingly focusing on the design and ergonomics of smartphones to appeal to the youth in India. Samsung leads the smartphone market in India with around 25.1% market share in Q4 2016, besides Xiaomi, Lenovo Group, Oppo and Vivo.
Download the report Smartphone Market in India 2017 to understand the latest market trends, competitive landscape and opportunities of the Indian smartphone market.