2016 was a year where smartphones ruled the market. Many new companies and giants ruled the market with their handsets. Some were new comers, while others were traditional and experienced giants.
Seeing the current competition in the market and the cutthroat race, most of the companies seem to be making an exit from the market. The year 2017 expects 7 new entries in the market along with almost 9 exits. In the year 2016, there were 13 new entries along with 5 exits.
Almost more than 80% of the entries and exits are related to $100 range and category (Rs 6,800). Out of the 100 smartphone giants in the Indian industry, there are only 15 leaders who make up 90% of the market. This information was provided by Tarun Pathak, a senior analyst in the industry of the smartphones.
The cutthroat competition and declining margins in the market are resulting in the exits of the players. While, on the other hand, these exits will give ample opportunities for the new entries.
Companies such as Microsoft, Acer, and Phicomm are likely to exit the market next year. While, contrary to this situation, firms such as Samsung, Lenovo, and Apple will remain intact and continue to rule the market. The major attraction of the show will be the comeback of Nokia in the market.
So friends, if you are going a buy a mobile next year, be careful while doing so. Also, do share any knowledge, if you have, regarding this article. That will be helpful for us.