Trends in the Indian smartphone industry
Since its emergence in late 1990’s, the mobile phone industry in India has grown by leaps and bounds over the years. From just few 100 to over millions of users, the industry has witnessed massive growth and development, owing to increasing demand for mobile devices. Over the years, constant development and technological innovation facilitated a new ecosphere of mobile phones, viz. Smartphones that are slowly changing the way one perceives telecommunicating devices.
Smartphones are referred to as mobile devices that have a touchscreen interface, endowed with many features, which are capable of performing high quality computing functions with just a single touch or tap of a button. People can access Internet for any kind of information, pay their bills, shop online, and keep in touch with their social circle on the go. Its advent has created a greater demand for high quality feature phones in the Indian subcontinent, creating a bigger market for many mobile brands to exploit and reach out to potential buyers in the country.
India is one of the fastest growing economies in the world. Its constant progress has facilitated growth in various sectors through technological advancements, one of them being the Smartphone industry.
According to Statista, an online statistics portal, India’s smartphone user base is estimated to reach around 204.1 million by the end of this year. In the next 2 years, smartphone penetration in India is expected to increase by 20%. Helmed by technological innovation, the Indian consumer is spoilt for choice with a wide variety of smartphone models to choose from in every price range. With so much growth in the industry, many smartphone companies, especially from China, are entering the Indian market to increase their brand’s customer outreach and in the process maximize their business growth.
Ever since the Indian smartphone market emerged as a promising venture, many Chinese companies have been trying to seize the opportunity to become one of the biggest smartphone brands in the Subcontinent. It has been reported that India is one of the emerging smartphone markets in the world, along with the Middle East and other South-Asian countries. Inspired by the same, many brands from neighboring country China are attempting to venture in the Indian market to maximize their reach and offer greater features to the Indian audience. The sudden arrival of such brands are also proving to be instrumental in furthering the cause of the ‘Digital India’ campaign, that will help in providing basic internet facilities in rural areas, and create a digitally literate society in the country.
Since there has been a sudden influx of Chinese smartphone manufacturers in India, there’s bound to be cut throat competition between them. Most Indian customers come from an upper middle-class background, so naturally they look for products that give them maximum satisfaction and value for money. It is this reason that compels most brands to market on their smartphone’s affordability factor, without compromising on features and specifications.
The latest trend in the Indian smartphone market is demand for greater 4G penetration in tier II and tier III cities, along with some rural regions. Ensued by the same, some Chinese companies who have received favorable feedback from Indian customers, are thinking of setting up their own manufacturing units in the country to further accelerate their brand’s growth and success. With so much investment coming in from China, it can be concluded for now that the Chinese smartphone wave is here to stay, and will only help in furthering the progress of the Indian economy through innovative technology.
Most Indian customers come from an upper middle-class background, so naturally they look for products that give them maximum satisfaction and value for money
Kevin Xu, CEO, Zopo Mobile