Micromax overtakes Samsung in India’s smartphone market: Canalys Report
According to market research firm Canalys report, India’s Micromax Mobile has overtaken Korean tech giant Samsung as the largest seller of smartphones in India for the first time.
As per Canalys report, Micromax accounted for 22% of India’s smartphone market share in the October-December 2014 quarter (Q4, 2014). While, Samsung’s market share has fallen down to 20%. Micromax’s smartphone market share in India is 4.7% and Samsung’s 4.4 in Q4, 2014.
Micromax was able to overtake Samsung because of its cheap smartphone segment that catered India’s local smartphone market preference.
Micromax and Samsung were followed by two other Indian budget smartphone brands, Karbonn and Lava.
It should be noted that, India is the world’s third-largest smartphone market after China and United States.
- Micromax is consumer Electronics Company with the business of manufacturing of Mobile phones, Smartphones, Tablet Computers and LED Televisions. It is headquartered in Gurgaon, Haryana, India
- It was started in 2000 as an IT software company and worked on embedded platforms. Later it started manufacturing low cost mobile and featured smartphones.
- Micromax is the tenth largest handset seller in the world as of Q3 2014.
Categories: Business, Economy & Banking
Tags: Current Affairs 2016