We have long been aware that India is a massive market for pretty much anything and indeed smartphones are no different.
But you may be surprised to heard the country has now passed the US to become the second largest market in the World after China.
In the final quarter of 2015 smartphone shipments to India increased by a staggering 15% annually with over 220 million smartphones in operation according to recent research conducted by Counterpoint Research.
India actually passed the US in August 2015 which was several months earlier than had been anticipated.
In 2015 India had a 23% increase on the previous year in the number of smartphones shipped to country with over 100 million been shipped there over the 12 month period.
Clearly the Indian market is a key market to all manufacturers with over 150 different brands being sold in the country with over 20 brands assembling their products in India.
Samsung and Lenovo face stiff competition from local brands such as Micromax and Intex and the market is expected to grow further in 2016.
The smartphone market in India is also very interesting terms of where the products are purchased.
Around one in every three devices were sold via e-tail during 2015 – a much larger proportion than in most other countries in Asia and indeed the rest of the World and will no doubt result in manufacturers focusing much of their marketing budget on this particular area.
Will Asia’s third largest economy pass China in terms so the number of smartphone sales?
Well that seems unlikely but it is certainly a rapidly increasing market and one that just appears to be going from strength to strength.
Source: Counterpoint Research