India’s currency may be floundering, but its smartphone market is on fire. Sales have nearly tripled in the last year, led by the local upstart Micromax, which is nipping at the heels of Samsung for market share dominance. Micromax now commands a 22% market share, up from 18.8% in the first quarter. Samsung’s share has slipped to 26% from 32.7%.
The scenario that is playing out in India — initial dominance by foreign brands like Samsung and Sony, which is quickly eroded by homegrown manufacturers like Micromax and Karbonn — is eerily similar to the dynamic seen in China, where Samsung and Apple had an early advantage that is being steadily erased by Huawei and Lenovo. Read more...
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