India is expected to become the second largest smartphone market in the world by 2017, as per a latest report from Strategy Analytics. The country is behind China and but has surpassed U.S which is the third largest smartphone market.
India is expected to sell 118 million smartphones in 2015 which will increase to 174 million in 2017. As of 2014, India was the third-largest Internet population with 243 million online, behind the U.S. with 279.8 million. The country was the fastest growing smartphone market in Asia Pacific, as per IDC report. The report said that global smartphone sales are forecasted to grow from 1.5 billion units in 2015 to a record 1.7 billion by 2017.
“We forecast 458 million smartphones will be sold in China in 2015, rising steadily to 505 million in 2017. China has been the engine of global smartphone growth in recent years, but China is now maturing and slowing. India is fast becoming the next major growth wave. We forecast 118 million smartphones will be sold in India in 2015, increasing strongly to 174 million in 2017. India’s growth is being driven by low smartphone penetration, expanding retail availability of devices, wealthier middle-class consumers, and aggressive promotions from local smartphone brands like Micromax.”
said Linda Sui, Director at Strategy Analytics.
A latest report from Counterpoint Research stated that the Indian smartphone market has registered an year over year increase of 21% however, quarter over quarter decline of 8%, as per latest
“We forecast 164 million smartphones will be sold in the United States in 2015, climbing marginally to 169 million in 2017. India will sell 174 million units and overtake the maturing US market to become the world’s second largest smartphone country by volume in 2017. No serious global hardware or software player can afford to ignore the huge Indian smartphone market today.”
said Woody Oh, Director at Strategy Analytics.