For the first time an Indian brand has overtaken the smartphone market in India from South Korean giant Samsung. Market research firm Canalys said that Indian smartphone manufacturing giant Micromax has overtaken Samsung in terms of market share.
Micromax accounts for 22% of the smartphone market share in the country against 20% of Samsung. India is considered as the third largest smartphone market in the world. It has been noticed that many Indians are looking forward to upgrade from their basic handsets to smartphones. Reports say that more than a quarter of the shipments were for smartphones which costed under $100.
The increasing demand for budget handsets forced the companies to manufacture affordable smartphones which appeal customers from various income groups. Rushabh Doshi an analyst from Canalyst said, “Catering to local market preferences will become increasingly important”. Doshi added that the Indian company was prompt enough to beat its competitors and improved the appeal of its devices.
Micromax dived in to the smartphone market in the country and also ventured in to the cricket sponsorship that helped it to grab more market share. One of the most important factors of its success was its pricing. Moreover, millions of Indians are looking forward to upgrade their basic handsets to smartphones and prefer budget handsets with maximum features.
Photo Credits: Reuters