India has raced ahead of Japan to become the third largest market in the world as per the report by Strategy Analytics. Q1 of 2013 has been busy one for the country as this is the first time it has moved to the third place, fallowing China at first and the US at second.
The sheer amount of options that the people of India have is something that clearly has made a difference. From high end models to the highly affordable ones, thanks to the existence of both international and local brands, there is something for every one. Besides, India has a massive population and there is a rising interest in owning consumer electronics.
According to analysts, Smartphone makers Apple, Samsung and India's very own Micromax are the main driving forces behind the Smartphone boom in the country.
Although Apple and Samsung are key players in pushing the Smartphone growth in India, native handset makers like Micromax, Karbonn and Spice are experiencing phenomenal growth in the country. Strategy Analytics says that the local mobile makers have a growth rate of between 200% and 500% on an annual basis.
Reportedly India is growing four times faster then the global average. Strategy Analytics says India has experienced 163% year on year growth in Q1, compared to worldwide growth of 39% in terms of smartphone volumes. In fact the growth rate in India is said to be faster then China which is at 84 % year on year, Japan which is at 24% year on year and US which is at 19% year on year. India's smartphone growth is faster then most major countries in the world.