Smartphone market in India grew 10% in 2018
NEW DELHI : The Indian smartphone market grew 10% annually in 2018 in terms of total shipments with Xiaomi leading the pack. This, even as the global market has been shrinking, according to a new report by Singaporebased industry tracker Canalys.
India accounts for more than 10% of the global smartphone market with a total of 137 million smartphones shipped in 2018—up from 124.9 million in 2017.
China and the US, however, still account for a majority of the market with shipments of over 350 million and 150 million units, respectively, even though their numbers fell in 2018 as buyers in upgraded to newer phones less frequently.
The report, though, qualifies that India wasn’t the fastest growing smartphone market in 2018. Indonesia with an annual growth rate of 17.1% and Russia with 14.1% were ahead in the figure of India in the list. Among manufacturers, Xiaomi consolidated its position and remained at the top for the entire year with a 30% market share and 41 million units shipped.
In 2017, Xiaomi shipped 25.7 million units and was at No.2 with 20.6% market share. Samsung, which was ahead of Xiaomi in 2017 with 23.6% market share and 29.4 million units slipped to second position in 2018 with a market share of 25.8%. The slump in the Chinese smartphone market has made India a major destination for Chinese firms. India is now the biggest market for Xiaomi worldwide.