As many as 41 smartphone brands, including Zuk, Acer, Datawind, LeEco, and Comio shut shop while 15 companies like Realme and Pocophone entered the Indian market in 2018, market research firm CyberMedia Research (via The Economic Times) has said, adding that these brands exited due to the hyper-competition.
“China-based Realme was a standout hit in the India market in 2018. Realme’s success shows that there is still a market for new players. India offers growth opportunities not just in Tier-1 cities, but beyond,” Prabhu Ram, Head-IIG, CyberMedia Research, was quoted as saying. South Korean company Samsung grabbed 26 percent share, leaving 16 percent market with smaller players in India to operate in.