As the Indian smartphone market is growing 12% year over year, as per reported by the analyst company Canalys. Moreover, 24.4 million units were shipped in Q1 2016.
The market of a smartphone has grown very rapidly in India as all the major companies are looking forward to selling their devices in India. Ishan Dutt, Research Analyst of Canalys, stated that India’s market in has been moved by profound changes in the field of smartphones and that too, over the past 18 months. The entrance of new international vendors (mainly from China) and the growth in online channels, the move to LTE and the craving for higher-quality devices have all had an immense impact. This had a powerful impact on Indian companies as incoming vendors were able to generate quicker and more rapid results concerning the trends of smartphones.
According to the Canalys, the top 5 suppliers of the smartphone includes with leading of Samsung, followed by Micromax, Intex, Lenovo, and Lava. While talking about the fastest growing companies in India, Apple and Lenovo topped the position leaving behind Micromax very badly. The homegrown company, Micromax has unsuccessfully lost the market share to 16.7 percent. Remarking on the unfortunate failure of the company, Dutt said,” Micromax, in particular, has been through tough times, with the main executives leaving. Now the company is aiming to revamp its strategy to incorporate an ecosystem of services around payments and content.”
The most grown company in India is Lenovo, mostly because of releasing its phones at the budgeted price and by distribution through official channels. The shipments of Lenovo handsets were increased by 63 percent in India.
And secondly, the Apple has increased its share amazingly by 56% and is paving its way ahead across the country. The Apple has secured the 8th position in the Indian smartphone market and climbing across the country.
Talking about the success of Apple in India, especially when it is losing the world’s market share, Wilmer Ang, Canalys Mobility Analyst said that Apple is already performing well in the Indian market and still has an exceptional potential concerning growth. Apple is outperforming the overall market in India, and still has great growth potential. The success of iPhone 5S was because of the affordability of this premium brand smartphone and the move to the more expensive SE will discourage budget buyers. Also, the recent government regulations restricting discounts on smartphones sold by online platforms will affect the demand.
On the other hand, many international well-known brands, which has lost a significant part of a market share of the country includes Microsoft, Blackberry, Sony and LG because of the shift in the market towards the value-for-money and low-cost handset.