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Duty hikes, dollar fluctuations will make smartphones more expensive in India
Chinese smartphone maker Xiaomi grew to a new high on the back of its successful Redmi 5A and Redmi Note 5 Pro series and refreshed Redmi 6/A/Pro portfolio.
According to the International Data Corporation (IDC), with the duty hikes in place and the dollar fluctuations, smartphone vendors are expected to raise prices of devices in the coming months.
Navkendar Singh, Associate Research Director, Client Devices & IPDS, IDC India said, "With the duty hikes in place and the dollar fluctuation, smartphone vendors are expected to raise prices of devices in the coming months rather than absorbing the cost or clocking it under cash backs and financing schemes etc."
Singh said, "Moreover, offerings like device AI, full-screen displays with notches, and higher memory configurations are expected to drive volumes from low to mid-range devices, carving out an affordable premium segment, especially for the upgrades."
Meanwhile, the report said "Quarterly Mobile Phone Tracker" said on Thursday that Chinese smartphone maker Xiaomi shipped 11.7 million units and became the top brand in the Indian market with 27.3 percent share in the third quarter this year, with Samsung at the second spot.
This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 percent to the overall mobile phone market.
According to Upasana Joshi, Associate Research Manager, Channel Research, IDC India, shipments in the third quarter were primarily driven by the eTailer channel in the run-up to the festival season.
The report also pointed out that Chinese smartphone maker Xiaomi grew to a new high on the back of its successful Redmi 5A and Redmi Note 5 Pro series and refreshed Redmi 6/A/Pro portfolio.
"Samsung registered an annual growth of 4.8 percent in 3Q18 at the back of its 'Infinity' series model 'Galaxy J6' followed by Galaxy J2 (2018), J8, J4 and the recently launched Android Go Model Galaxy J2 core with a middling demand," the IDC report added.
Vivo too continued at 3rd position with an impressive YoY growth of 35.4 percent in 3Q18 while Micromax entered the top 5 vendor list after declining for straight 7 quarters, as it climbed to 4th position and OPPO slipped to 5th position, as shipments declined by 7.1 percent annually in 3Q18.