Business

Lenovo beats Micromax, reaches on number two position among top smartphone brands in India

Lenovo to snatch the second rank in Q2 next to market share IDC

The Chinese smartphone maker Lenovo, according to a new statistics has become the second largest smartphone manufacturer in India, beating the home-grown Micromax for the very first time.

A Singapore-based research firm Canalys has made a survey on the top smartphone brand in the Indian market and on its Wednesday-declared reports; it said Lenovo to be the No. 2 handset maker in the country, following the Korean Multinational Samsung. Thanks to the new offline sale strategy, Xiaomi, another smartphone multinational of China has also witnessed a significant hike from its previous position and now ranked at 3rd number of the list.

According to the Preliminary data collected from market research firm, Indian smartphone has experienced a notable growth with around 25% year-to-year margin and 21% hike in Quarter-to-Quarter. As mentioned in the reports, in the three months to September, the Indian market is recorded with 21% growth in sale margin, while Lenovo, with the remarkable climb, grabbed the second rank by replacing Micromax. An analyst from the firm confirmed the reports of Micromax losing its second position due to the sluggish sale rate in comparison to Lenovo.

As perthe analysts, “Lenovo’s move to meet the demands of sale on offline channels and Xiaomi’s plan to switch the company from online-only vendor to offline channels helped both a lot.”

He further added that in India Chinese 4G handsets are gradually becoming the mainstream and the demands for the smartphone of Lenovo and Xiaomi are found to be mounting over the years. He also mentioned in the report that, the demand for handsets of the local players like Micromax, Intex, and Lava getting down year to year. As per the survey, the Indian market has crossed the milestone of 30 million unit sold in Quarter 3 of Fiscal Year 2016.

Among the individual sale growth, Samsung is placed at the number one rank on the list. However, the market shares of the Korean company glided from 26% margin of Q2 2016 to 21.6% in the third quarter, due to the rise of the Chinese players. Similarly, the Indian firms like Micromax, Lava, and Intex also underwent though the loss of around 6% market share successively. While the market share of Micromax slipped sharply from 14.1% last quarter to 9.8% in September, Intex also dropped down from 8.4% to 6.4%.

On the other hand, Chinese companies like Xiaomi, Lenovo, Oppo, and Vivo with their constant focus on mid-ranged smartphones topped the list. Against the market share of the last quarter, the Chinese brands collectively managed to put on 32% profit in this quarter.

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