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India Beats US To Become Second Largest Smartphone Market


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India has officially beaten the US to become the world's second largest-ever smartphone market in the world. This was thanks to two smartphone brands selling smartphones that would amount to almost half of total shipments in the country.

India Beats US To Become Second Largest Smartphone Market© BCCL

Demand for mid and high-end smartphones has been increasing at a steady rate over the past few years and has finally surpassed the US smartphone market. According to Canalys, India's smartphone market is controlled by five major companies with Samsung and Xiaomi on top. The two companies have shipped almost half of all smartphone shipments in the third quarter of 2017.

India Beats US To Become Second Largest Smartphone Market© Canalys

Xiaomi saw an increase in shipments by 290 percent, highest by any company while Vivo saw a similar increase even though the company has a smaller market share. Canalys analyst Rushabh Doshi points out, “Xiaomi's growth is a clear example of how a successful online brand can effectively enter the offline market while maintaining low overheads,” He adds, “But Xiaomi focuses on the low end. It struggles in the mid-range (devices priced between INR15,000 and INR20,000 [US$230 and US$310]), 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.”

India Beats US To Become Second Largest Smartphone Market© Reuters

According to Canalys, India has low barriers of entry that enables smartphone manufactures to compete strongly in India. Currently, Samsung, Xiaomi, Vivo, Oppo, and Lenovo are the top five vendors in the country, who now make up 75% of its total smartphone shipments.

Mr. Doshi also said, “The Indian economy is proving very strong in the second half of 2017, now that the twin shocks of GST and demonetisation are behind it.”

India has enjoyed a 23 percent increase in smartphone shipments in the past quarter which is far more than any other country except China. China currently holds the number one spot, but India's gradual increase in shipments show the country's stable and growing market might dethrone China one day.

Source: Canalys 

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