With the market becoming more hostile in the middle of aggressive 4G rollout and more people taking on digital payment methods, smartphones in India will represent 62 per cent of all mobile phones sales in 2018, market research firm Gartner forecasted recently. The rise of digital currency is bringing a new use case for smartphones, which, in turn, is set to activate higher demands for smartphones.
This untie the chance for service providers to begin mobile wallet solution or even vendors to launch their restricted mobile payment solutions like Android Pay or Apple Pay to build an ecosystem, Gartner said. “India represents the largest opportunity because it is the second-largest mobile phone market after China,” said Anshul Gupta, Research Director, Gartner.
Increasingly mounting the struggle from Chinese manufacturers has not only concerned top local brands such as Micromax, Intex, Lava and Karbonn mobile but also resulted in a diminish in smartphone market share for global leader Samsung in India. Leading the worldwide vendors Samsung and Apple have made elite plans to raise their shares in the market. While manufacturers like Gionee, Huawei, Oppo, Xiaomi and Lenovo, etc. have dedicated huge investments to develop the growth opportunity, the report added.
“With an exclusive focus on the market from the device manufacturers, we expect more customized smartphones to come to market and remain key to win in this highly competitive market,” Gupta said.