According to CyberMedia Research, these manufacturers perished owing to the tough competition posed by Chinese players which registered a growth in the last year.
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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. CMR also claimed that 2019 is also expected to see out door even as brands like Samsung, Xiaomi, Oppo and vivo, among other would continue to enjoy good market share by eating up the share of these brands.
Counterpoint Research predicts that 2019 could see the exit of 15 smartphone players, including Sony and five players like Nubia and Razr could try to establish/re-establish themselves in India. In comparison, CMR predicts 10 exits and nine new entrants in this year. CMR says that India currently has around 200 smartphone players operating in the market, which is down from over 300 players at its peak in 2014-15. The news comes following reports which said that global smartphone markets saw decline in shipments.
Analysts said that smaller brands were unable to provide the same specification as that provided by the Chinese brands and they ended up exiting the market to cut their losses. According to CMR, Chinese smartphone brands Xiaomi, Vivo and Oppo together grabbed 46 percent market share in 2018 leaving Indian brands like Micromax, Lava, Intex and Karbonn with a combined market share of mere 8 percent.
“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.
“India becomes important also in terms of a huge hitherto untapped base for smartphone consumers in next three-five years along with favorable manufacturing policies and ecosystem development efforts by the government,” Navkendar Singh, Associate Research Director, Devices and Ecosystem, India & South Asia, IDC, was quoted as saying.
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