While several Chinese smartphone companies are mostly dominating the Indian smartphone market, reports suggest that 15 brands entered the Indian market eyeing growth prospects in the year 2018. According to CyberMedia Research data (obtained by EconomicTimes), around 41 smartphone brands exited the market in the same year as they were facing tough competition.
Furthermore, analysts assert that the unknown brands such as Rokea, Sony, Centric, Forstar, Mediacom are reportedly expected to exit the market this year as the big tech giant’s, including Xiaomi, Samsung, Vivo, Oppo “continue to consolidate their share by eating into those of the smaller brands.” While the CMR report suggests that nine new brands will enter the market and 10 players will exit, Counterpoint Research predicted that 15 smartphone brands will exit in the year 2019 and the year will see five new entrants.
Last year, global market shipments fell by 4 percent and India rose by 10 percent. In 2018, smartphone players such as Poco by Xiaomi, Realme, Mobistar, Anee mobile, Inelo, and Maze entered the Indian market. Additionally, in 2014-15, the country had over 300 smartphone brands and now, India has 200 brands, as per CMR estimates.
“India becomes important also in terms of a huge hitherto untapped base for smartphone consumers in next three-five years along with favorable manufacturing policies and ecosystem development efforts by the government,” said Navkendar Singh, associate research director, devices and ecosystem, India & South Asia, IDC.
Watch: Oppo Find X First Look
China-based Realme was a standout hit in the India market in 2018. Realme s success shows that there is still a market for new players. India offers growth opportunities not just in Tier-1 cities, but beyond, Prabhu Ram, head-IIG, CyberMedia Research. Chinese players, including Oppo, Xiaomi and Vivo have garnered 46 percent of market share in 2018 outshining brands like Micromax, Lava, Intex and Karbonn. In addition, Samsung garnered 26 percent of market share.