As many as 41 smartphone brands exited the India smartphone market in 2018 owing to hyper-competition, while 15 brands entered the market eyeing growth prospects that India has to offer, according to data shared by Cybermedia Research.
Mirroring the same pattern, more exits than entry of smartphone players is expected in 2019 as major brands like Xiaomi, Samsung, Vivo, Oppo continue to consolidate their share by eating into those of the smaller brands, analysts say.
As per CMR estimates, India currently has around 200 smartphone players operating in the market. At its peak in 2014-15, the mobile phone market had over 300 smartphone players.
“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.