According to a recent study more than a billion smartphones will be sold in India over the next five years. That will take the number of users to 700 million by 2022. Counterpoint Research said on Friday. Mid-range smartphones [between Rs 14,000-29,000] will grow 20% [year on year] in 2018. And it might increase by four times during the next five years, the research firm added.
‘Features such as a full-screen display, dual camera, biometric security and support for Artificial Intelligence are beginning to make inroads to the mid-range. They will become widespread over the next few years” said Tarun Pathak, Associate director at Counterpoint Research.
India is the second largest smartphone market in the world after China. It has just surpassed 400 million smartphone users.
But this accounts for just 44 percent of the potential total addressable market for smartphones.
If we look at the competitive environment the top five brands contributed to a 92 percent share of the mid-tier segment in India. The leading brands in the first half of 2018 are Samsung, Vivo, Apple, Oppo, and Huawei.
There is an expectation that there will be an increase in competition because of entry of brands like Xiaami, Asus, Nokia HMD and others.
The role of SoC players is critical to unlocking the potential of the mid-tier market segment.
If done successfully there will be growth almost four times in volume over the next five years in India. To enable this growth, cutting-edge solutions such as Qualcomm’s Snapdragon 710 are required on a broad scale.
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