India Becomes Second-Largest Smartphone Market, Overtakes USA
The smartphone craze in India has been growing at a rapid rate over recent times, and that has lead to our country overtaking The United States of America to become the second-largest market for smartphones, after China. Smartphone shipments to Asia’s third-largest economy grew 15% annually during the October-December (Q4) period of 2015, taking the user base to 220 million, according to new data from Counterpoint Research.
“The Indian smartphone demand grew strongly during the holiday season in the Q4 2015 quarter,” said Pavel Naiya, Research Analyst at Counterpoint Research. According to analysts, India was expected to overtake the USA in the market, but not so early. The expected time was sometime in 2017, but early 2016 saw the overtaking take place. According to Counterpoint Research, over 100 million smartphones were shipped to India in 2015, 23% more than that of the previous year.
According to Tarun Pathak, senior analyst at Counterpoint Research, “This speaks volumes for the scale Indian market provides for any player in the mobile connected ecosystem. Though India still has a long way to go as the smartphone penetration of the total potential population is still below 30%.”
The ‘Make In India’ initiative will probably take the industry even further in the upcoming year, with 20 companies’ phones being assembled within the country, out of the 150 companies that are selling smartphones. Almost half of the total number of smartphones sold in the Indian market in 2015 were made or assembled in India, as a part of the ‘Make In India’ movement. Furthermore, online sales have helped the market flourish, wth one out of three smartphones being purchased online.
Do you think that this growth in the smartphone industry and market in India will boost communications on a whole in the country? Tell us what you think, in the comments section below!