India, due to its huge population, has always been a volume-driven market. Dropping prices below global standards is easy due to the large-scale consumption of products and services. Even companies such as Apple slash prices to stay competitive in such markets.
India’s smartphone market is one of its most rapidly growing sectors and as of October 2015, the country has 1.03 billion active phone users. Twelve companies fight for the top spot with Bharti Airtel in the lead with 200 million users. This competition is what leads to India having some of the least expensive phone bills ever. It comes as no surprise that mobile companies and telecom providers from every corner of the world are trying to get a piece of this giant cake.
Is the US still the centre of the smartphone universe?
Although the numbers depicted above reflect all mobile phones, India has a fast-growing smart market as well. The US is still the market king for flagships and high-end models but the Asian country has taken over the small and mid-range smartphone market completely. The funny thing is that if we are counting mobiles in general then India had taken over the US way back in 2008. While the US smartphone market had risen by a 100 million users, India in the same time frame (about eight years) has risen by nearly two time the population of the US itself.