Indian mobile phone manufacturer, Micromax Informatics Ltd. has secured a position among the largest smartphone manufacturers in the country. According to the research firm Canalys, the budget smartphone vendor, Micromax is currently leading South Korean giant, Samsung Electronics Co. Ltd. and holding the title of ‘leading supplier’ in India in Q4, 2014.
“Micromax has remarkably ousted Samsung to become the first domestic vendor to take the top spot in the Indian smartphone market, the third largest in the world,” Canalys said..
In late Q4 2014, Micromax’s shares rose to 22 percent, whereas, the Samsung Electronics was running behind with 20 percent growth in the market shares. In the same time frame, 21.6 million smartphones were sold in the country that makes India world’s third-largest smartphone market. However, China is leading the list with slightly higher amount of handsets sales.
“Addressing these important segments has helped it (Micromax) take 22% share of the total smartphone market in India, ahead of Samsung at 20%,” Canalys said
During these last four months in 2014, 23 percent of smartphones sold in India were under INR 6,000 (~$100). Meanwhile, 41 percent of the handsets sold were within the window of INR 6,000 to INR 12,000.
As per the reports by a research and consulting company based in Hong Kong, Counterpoint Technology Market Research, six months before, Micromax got the title of ‘best seller’ in India for total phone sales including smartphones and feature phones.
“Micromax has remarkably ousted Samsung to become the first domestic vendor to take the top spot in the Indian smartphone market, the third largest in the world,” Canalys said.
“Canalys believes catering to local market preferences will become increasingly important. Micromax has been quicker than its competitors to improve the appeal of devices, for example,” said Rushabh Doshi, an analyst at Canalys. “But vital to [its] success is selling these handsets at low price points to appeal to the bulging midlevel income market in India.”
In addition to it the Indian smartphone market experienced a hike of 90 percent in annual sales, including 21.6 million of units shipped in the fourth quarter, last year.