In 2020, the fast-growing smartphone<\/a> market is expected to gain more steam backed by positive and strong governance, frequent technological advancement, innovation, and thrust towards digitising the bottom of the pyramid, said Arijeet Talapatra<\/a>, CEO, Transsion India<\/a> in a statement.
The industry, according to him, would witness the sale of around 213 million smartphones in the coming year out of which the major contribution could be made by India’s rural population.
Chinese brands of BBK group such as OPPO, Vivo, Realme and OnePlus continue to see surging demand in the Indian market, following which Xiaomi's market share fell to 27.1% and Samsung’s 18.9% in Q3, 2019, according to IDC.
“Making India the world’s second-largest market for smartphone companies, the industry witnessed growth reaching 49 million units in Q3 2019 even after the ongoing economic slowdown in other sectors,” Talapatra added.
The government, according to him, has facilitated the industry with initiatives such as 5 per cent reduction in customs duty and Phased Manufacturing Program (PMP) enabling ease of doing business.
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