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India now second largest smartphone market in world

India now second-largest smartphone market in world


That’s according to a new report from Canalys which claims smartphone shipments in India crossed the 40 million mark for the first time in Q3 2017 courtesy of 23 percent annual growth. That means that India has overtaken the U.S. on sales with only China ahead of it.
Given the huge gulf in populations — India’s stands at over 1.3 billion while the U.S. is around 320 million — the move had been expected for some time, but recent developments, including demonetization in late 2016, set progress back during recent quarters.
This growth comes as a relief to the smartphone industry. Doubts about India’s market potential are clearly dispelled by this result,” said Canalys Research Analyst Ishan Dutt. “There are close to 100 mobile device brands sold in India, with more vendors arriving every quarter. In addition, India has one of the most complex channel landscapes, but with low barriers to entry. Growth will continue. Low smartphone penetration and the explosion of LTE are the main drivers.”
According to Canalys’ numbers, Samsung remains top with 9.4 million shipments in Q2, up nearly 30 percent, but Xiaomi seems set to overtake it soon after growing by over 290 percent year-on-year to reach 9.2 million units.
Xiaomi’s growth is a clear example of how a successful online brand can effectively enter the offline market while maintaining low overheads,” said Canalys Analyst Rushabh Doshi. “But Xiaomi focuses on the low end. It struggles in the mid-range (devices priced between INR15,000 and INR20,000), where Samsung, Oppo and Vivo are particularly strong. Nevertheless, we predict Xiaomi’s continued go-to-market innovations will allow it to overtake Samsung within a couple of quarters.”

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