India Fastest Growing Smartphone Market In Asia For Q1 2014

According to IDC report India witnessed the highest rate of growth — over 186 per cent — in smartphone sales in Asia Pacific region during January-March 2014.

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Smartphone growth in India keeps proliferating at a positive pace. With smartphone prices dropping steadily, Indians are migrating from feature phones to smartphones. A research by IDC said, “Smartphone sales in India are expected to reach 80.57 million units by the end of this year.”

Also the sales would continue to grow at a CAGR of about 40 percent over the next five years, reports Firstpost.

The report has highlighted some more interesting facts worth noting:

1. India witnessed the highest rate of growth — over 186 percent — in smartphone sales in Asia Pacific region during January-March 2014, outshining countries like China.

2. The overall mobile phone market in the country grew by just 1 per cent to about 61.07 million units in Q1 2014 compared to the previous year.

3. The dip in the overall mobile phone market shipments can be attributed to the 18 percent decline in feature phone shipments from Q4 2013 to Q1 2014.

4. This also meant that the smartphone market grew by close to 17 percent in Q1 2014 compared to Q4 2013.

5. Compared to India’s 186 per cent growth, China registered a year on year growth of 31 percent in Q1 2014.

The report states that the smartphone penetration in India still hovers at 10 percent and it is expected to keep the positive growth. The IDC also said that the consistent growth in the smartphone market is driven by enhanced consumer preference for smart devices, narrowing price differences and additional sales emphasis by top-flight vendors on less populous parts of the country.

Earlier in the month of February 2014, Gartner had stated that the smartphone sales for the first time have overpowered the feature phone market in terms of sales in 2013. The report highlighted that the increasing contribution of smartphones was led by growth in Latin America, the Middle East and Africa, Asia/Pacific and Eastern Europe, where smartphone sales grew by more than 50 percent in the fourth quarter of 2013.

The growth in India increased by 166.8 percent making it the world’s fastest growing smartphone market in the last quarter of 2013.

Looks like the growth of smartphones in the country is not going to stop in the near future, and that is a good sign in a mobile first world.