India as a smartphone market has a lot of potential for growth, and for profits. Companies like Samsung and Apple have set their sight on this Asian country with more than one billion people. Now, people expect it to outgrow the USA as the second largest smartphone market.
India set to overthrow USA as the second largest smartphone market
For the longest time, the USA has been the second largest smartphone market, only staying behind China. There are approximately 220 million people in the USA who own at least a smartphone. As a whole, North America (including Mexico and Canada as well) shipped about 177.3 million smartphones in 2014. However, by the year 2019, India is going to surpass the USA as the second largest smartphone market in the world!
Experts expect China to retain the top spot as the largest smartphone market for many years to come. Meanwhile, other emerging markets, such as Brazil and India, shall continue its impressive growth. Emerging markets have had such a significant impact on the smartphone landscape in the last few years regarding sales. The area with the greatest growth during 2013-2016 was Asia Pacific, as both developed and undeveloped countries in the region having exploding growth.
During the Moto Z2 Play presentation, Lenovo admitted the importance of the Indian market. With 127 million phones planned for shipping this year, which is more than Brazil, Japan, and Indonesia combined, India is on its way to becoming a titan of smartphone sales. Nokia has also acknowledged the importance of the Indian market as well. That could lead to some changes in the smartphone landscape in the future as well!
India: A promising land for smartphones
If India were to become the second largest smartphone market, customers here could have more budget options for smartphones releases. Is it a good sign for the market?