Mobile sector in India is growing with a rapid pace and the experts have predicted even greater sales of the handsets in the coming years. There has been a boost in the sales of mobile phones in the Indian markets in past years and the trends are seen only going upwards. This is an encouraging trend for the manufacturers as well as the investors.
According to a leading telecom publication, last year, the Indian mobile phone industry grew by a handsome 15 percent. This growth resulted in a yield of Rs 33,171 crores in the fiscal year 2010-11. Top five players in the mobile phone sector are Nokia with number one rank, having a market share of 39%, Samsung, Micromax, RIM [Blackberry] and HTC in that rank. Despite entering the Indian marketplace late, Nokia has become a top player shortly. The company started offering dual-sim handsets only in October 2010. Of the major players in the mobile phone industry, only Micromax is the proud Indian player, which has grown by 43% year on year.
There are more than 175 million handsets in India. The experts have predicted a growth rate of 25% on handsets sales. More than 3 million Smartphones were sold in India in 2011 in the first quarter. However, the share of Smartphones sold in the country was only 6 percent in the mobile phone market.
While most of the major players are from overseas, the success story of the Indian brand Micromax gives the promise of more such domestic brands emerging in the mobile sector. Micromax has now become 12th largest handset manufacturer in the world and has reached out to many countries due to its innovative products and ability to face new challenges. We can surely say that mobile phone sector has a bright future in India and growth rate is most certainly likely to remain higher.
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