Smartphones are expected to account for 62% of all mobile phones sales in the country in 2018, backed by increasing demand for these devices and government’s push for digital currency, according to research firm Gartner.
“As the Indian cellular market goes through consolidation and aggressive 4G roll out, demand for smartphones will continue to grow,” the report said.
“With smartphone penetration maturing in many developed markets, continued growth in the world’s 3rd largest smartphone market makes India an attractive market. Smartphones in India are expected to account for 62% of all mobile phones sales in the country in 2018,” it said.
The report also said with increased push from the government for digital currency, as well as people becoming more open to using digital payment methods, the rise of digital currency is bringing a new use case for smartphones, which will trigger higher demands for smartphones.
Global vendors like Samsung and Apple have made plans to grow their shares in the market, while major Chinese manufacturers, such as Gionee , Huawei , Oppo , Vivo , Xiaomi , Lenovo , have committed big investments to exploit the growth opportunity, it said.
With an exclusive focus on the market from the device manufacturers, we expect more customised smartphones to come to market and remain key to win in this highly competitive market,” Gartner research director Anshul Gupta said.
The firm observed that consumers are now willing to spend more to get a smartphone with better features than simply rushing for lowest price smartphones.