China is currently the largest smartphone market in the world, followed by the US, but it looks like things will change in the future. According to a report by Statista, in two years time, India may surpass the US to become the second largest smartphone market in the world.
India is anticipated to grab almost 15 percent of the world’s smartphone market share, while the US will drop down to third place with a market share of 10 percent. China, which currently has a 31 percent market share, is expected to remain number one.
The possibility that India could surpass the US in terms of the number of smartphone users has been predicted for a while now. The demand for smartphones has been increasing in the country, thanks to affordable devices from Chinese companies including Oppo, Vivo, and Xiaomi, just to name a few. Further, the population of India (well over 1 billion) is far larger than the population of the US (around 320 million), which is obviously an important factor.
In addition to India, the demand for smartphones is also expected to increase in other emerging markets like Brazil, for example. That’s why more and more manufacturers are trying to increase their presence in these markets. Xiaomi, for example, has opened a second factory in India, said to be capable of producing one smartphone per second during operational hours. Samsung also sees a bright future in India and has recently announced its plan to double the size of its existing production plant in the country.