According to the recent report by Gartner, Indian customers are spending more on smartphones. The market for smartphones will continue to grow for high end smartphones in the coming years.
By 2018, India will account for 62% of all mobile phones sale. India has become a potential market for smartphones as major markets have slowed down on buying smartphones. Major smartphone manufacturers such as Samsung and Apple have lost a large market share in the last two years due to huge competition from China.
According to reports, Samsung and Apple have made exclusive plans to grow their shares in the market. But Chinese smartphone manufacturers such as Huawei, Oppo, Gionee, BBK (Vivo), Xiaomi, Lenovo etc., have already eroded market share from them and committed big investments to exploit the growth opportunity.
According to Gartner’s consumer survey, users are willing to spend more to get a smartphone with better features than simply rushing for lowest price smartphones. Some of the manufacturer players market shares are given as follows:
Samsung, the most popular smartphone brand in India, commanded 24.4% market share in 2014 but it slipped to 21.2% and 17.3% in 2015 and 2016 respectively.
Indian company Micromax has also seen a tremendous change of market share in last three years. The company had a bigger chunk of smartphone sales in 2014. The market share in 2014, 2015 and 2016 were 18.3%, 16.7% and 11.9% respectively.
Chinese manufacturer Lenovo on the other hand, has increased its market share from 1.6% in 2014 to 8.1% in 2016.
On the other hand, Indian company Intex Technologies saw a tremendous market share in 2015 10.1% but the market share dropped to 6.9% in 2016.
Karbonn Mobiles also saw a decline in market share since 2014. The brand commanded 11.6% market share in 2014, 3.4% in 2015 and 5.2 % in 2016.
In today’s world of high-end technology, Indian consumers are willing to spend more to get a better featured smartphones than buying lower priced phone with limited features.