Chinese smartphone vendors in 2016 captured 40 percent share in India. India is the second largest smartphone market across the globe.
Lenovo was the second highest ranking company after Samsung which topped the list, compiled by global research firm International Data Corporation.
Xiaomi took the third spot with a market share of 10.7%. Indian domestic brands saw a fall in the market share. Micromax reported a 16.7 month-over-month sales dropping in October 2016.
Smartphone giants see India with the population of 1.34 billion as the new China. Despite growth, price war remains fierce in what has become the world's second largest smartphone market where price of mobile averages USD 100.
Besides price war, patents right and tariff could further hinder growth in the country.Know More About Indian Smartphone Market
- Indian smartphone market is driven by internet growth.
- Over 90% of the total internet users in India have access to mobile internet.
- Smartphones are expected to grow 36% CAGR in the next 5 years.
- High competition, language localisation and ease of accessibility in the market drive growth.
Key IDC Findings
- Smartphone market crossed 30 m units shipment milestone in Q3 2016 (IDC_.
- It was maintaining healthy traction with 11 percent Y-O-Y growth
- Online share increased to 31.6 percent with 35% Q-O-Q growth.
- 4 G smartphone shipments grew 24.8% over previous quarter.
- 7 of 10 smartphones shipped in Q3 2016 were 4G enabled.
- 9 of the 10 smartphones sold by e-tailers were 4G.