India is the world’s fastest-growing smartphone market and Prime Minister Modi’s envision for ‘Made in India’ seems to go well when it comes to India’s smartphone industry.
Three out of four smartphones shipped in the country during the Q3 (2016), which ended this September were ‘Made in India’, market research agency Counterpoint analyses revealed.
According to analyses done by Counterpoint, smartphone shipment in India grew 23 per cent compared to global market which witnessed a growth of about 5 per cent.
Research Analyst at Counterpoint Karn Chauhan said, “India witnessed record quarter for smartphone and featurephone shipment during Q3 2016. The demand of smartphone is being fuelled by growing importance of being uber-connected.”
Samsung continues to dominate the feature phone (21.6 per cent) and smartphone market (22.6 per cent) but its overall market share declined by 4 per cent.
On the other hand, the India-based smartphone maker Micromax managed to maintain the second spot in smartphone space in India with 9.9 per cent market share, closely followed by Lenovo with 9.2 per cent share. However, in the featurephone market share Lava overtook Micromax to become number one among local brands in featurephone segment.
Intex has been slammed to fourth spot in mobile phones market and in smartphone segment. Intex was surpassed by LYF and Xiaomi, instead Reliance Jio’s LYF brand climbed up to number four spot with 6.9 per cent market share after the commercial launch and trial period offer to consumers.
Counterpoint Analyst Pavel Naiya said, “While bulk of the first-time smartphones users were mostly using Indian or Samsung branded smartphone but aggressive entry and growth of Chinese brands have promoted most of these users to upgrade to affordable but better spec smartphones.”
The analyses revealed that Xiaomi, a Chinese tech company, has entered in the top smartphone ranking due to stronger demand for its Redmi Note 3 device which was the second most best-selling smartphone in India.
Chinese smartphone makers Oppo and Vivo saw their shipment grow 272 per cent YoY and 437 per cent YoY respectively during the Q3 2016.
“Chinese brands are growing in clout and now contributes to almost one of the three smartphone shipment,” Counterpoint added.
