Chinese smartphone companies eyeing India as new marketStaff writer ▼ | December 5, 2015
As China's smartphone market becomes increasingly saturated, emerging lucrative markets such as India are luring Chinese brands to enter and compete in the new market.
Spreading Smartphone market in China becomes increasingly saturated
Lenovo, Huawei, Xiaomi, Vivo, Meizu and One Plus have already launched their products in India while LeTV, one of the late comers, also announced its foray into the market in October.
Anshul Gupta, an analyst at the market research firm Gartner, projects that the Indian smartphone market will grow at an annual compound rate of 40 percent in the next two years.
"The availability of affordable smartphones in emerging markets saw consumers upgrade their 'feature phones' to smartphones more quickly because of the small price gap."
Smartphone sales in emerging markets alone increased by 18.4 percent to 259.7 million in the third quarter of 2015, compared with the same period in 2014.
According to the latest figures unveiled by International Data Corporation (IDC), thanks to Motorola's line-up, Lenovo, moved up to fourth place in the Indian market in the third quarter of 2015, owing to a strong 58.6 percent sequential growth.
Chinese brands are facing tough competition with other global brands and local brands such as Micromax, Lava, Intex, Karbonn. ■