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Nokia Comeback: 3 Reasons Why India is a Key Market for Nokia's Growth
HMD Global says that India is a prime market for Nokia's growth.
Indians who used a Nokia phone as their first mobile phone will soon experience a nostalgic feel. Well, the brand will launch a new array of smartphones based on Android OS in the next year under a new company, HMD Global.
HMD Global has stated that India will be a key market and will play a significant role in the next phase of growth of Nokia amidst the already existing competition. HMD Global has signed a 10-year brand licensing deal with Nokia to launch phones and tablets. The company has roped in Ajey Metha, the former Microsoft India country manager of the Mobile Devices Sales Group as its VP for India operations.
Now, we at GizBot, have come up with a slew of reasons why HMD considers that India is a key market when it comes to the growth of Nokia during its comeback. Take a look at the reasons from below.
India is the fastest growing smartphone market
The notable point is that India is the fastest growing smartphone market in India and it will be quite crucial for Nokia to achieve sufficient growth during its comeback. Nokia will make and sell smartphones as well as feature phones in the country for a decade.
Also Read: OnePlus 3T Announced in India at Rs. 29,999
Feature phones are still popular
With the popularity of smartphones, the feature phone market in the country is gradually shrinking, but that doesn't mean that people have forgotten the feature phones. This segment still contributes to a major chunk of mobile phone shipments. Eventually, Nokia feature phones launched by HMD might become successful.
Strong presence of brand
Back in 2008, Nokia had a significant market share of 70 percent in India. HMD believes that there is a still resonance of the brand among both the trade partners and customers. The trade partners will likely take the upcoming Nokia products to the market at a faster rate, says the company.