India May Become the Second Largest Smartphone Market in the World: Raghu Reddy

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With the current pace of smartphone sales in the country, it can soon pip the US and become the second largest smartphone market behind China

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With the advent of smartphones and the growth of its popularity in the country, if sales continue to grow at the current rate and pace, it is expected that Indian might dethrone the US and become the second largest smartphone selling nation in the world, Raghu Reddy, head of category and online sales of Xiaomi India has stated.

Smartphone sales had gone up around 10 per cent in 2017

Reddy said that the current pace and rate at which smartphones are selling in India, it stands the chance to “overtake the US market and become the second largest smartphone market globally after China.” He added that in the current scenario, the growth is occurring in the Rs 10,000 to 20,000 price range.

He said that in 2017, Xiaomi had experienced more than 300 per cent growth, which made the brand the largest selling smartphone in India. As of now, Xiaomi’s market share is over 30 per cent including online and offline sales.

Xiaomi is the largest selling smartphone with over 300 per cent growth in 2017

At a recent function to launch the latest Redmi Y2 models in Kochi, Kerala, Reddy said, “We have been the top smartphone player in the country for the last three quarters since September 2017.” He added that Xiaomi has 60 per cent shares in the online smartphone sales.

Recently, the Beijing-based Chinese electronics company has boosted its production facilities and now owns six production facilities spread over Andhra Pradesh, Uttar Pradesh and Tamil Nadu. Reddy said that the printed circuit board assembly (PCBA), which is used in smartphones accounting for 50 per cent of the phone’s value, will also be manufactured in India.

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