Multiple cameras, 5G, foldable screens, you name it — phones launching in 2019 will have all these and more.
For the Indian smartphone industry, 2018 turned out to be an interesting year with manufacturers coming up with exciting features and innovation to compete with other players. Even shipment volumes touched new heights with 43 million smartphone shipped in Q3 2018 alone and online share reached an all-time high with 39 percent of the chunk in same quarter.
Upasana Joshi, Associate Research Manager with research firm IDC believes that India will continue to attract new players every quarter owing to its vast untapped potential and will continue to grow in the coming few years.
The year 2017 ended on a happy note for smartphone industry with an annual increase of 14 per cent in shipment volumes with a total of 124 million smartphones shipped across the country, which makes India the world’s fastest growing smartphone market. In 2019, Indian smartphone market is expected to continue its double digit growth and according research firm techARC’s estimates, as many of 149 million smartphones are expected to be sold in India this year.
IDC reports that more than 80 per cent of Ithe ndian handset market still lies below $200 (approx. Rs 14,000), which is expected to drive this market in 2019 as well. However, there is a pool of upgraders, too, that will drive the $300-$500 (approx. Rs 21,000 to Rs 35,000) segment and attract new players with technological advancements in the affordable flagship segment.
“The premium segment is growing at a fast pace in India, which is faster than other markets. As a lot of existing users are now craving for the premium experience so this segment will continue to grow,” says Vikas Agarwal, General Manager, OnePlus India. “Going forward, premium segment might became more competitive as other players are also pouring into this segment, which are attracting a lot of new users to the premium segment,” he adds.
Joshi explains that 2019 will be crucial for this market as online heavy brands enter into the offline channel, which still accounts for 60 percent of the total volumes. IDC also hopes for segment of handsets below Rs 5,000, which could fit in with first time buyers of smartphones, many of whom will shift from a feature phone to a smartphone.
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December 8, 2018