According to the latest report from GFK, India has led the global smartphone growth in 2015, and will continue to do so for the rest of the year.
As per the report from analytics firm GFK, 302.1 million smartphones were sold globally, up from 288.3 million units during the same quarter last year, which turns out as a 5 percent rise. In terms of monetary value, the growth is 7 percent, up from $86 billion in Q2 2014 to $92.4 billion in Q2 2015.
The smartphone growth in India was attributed to low smartphone penetration when compared to developed markets and in China along with cut-throat competition that drives down the cost of a smartphone. Due to this, consumers can buy good smartphones at dirt cheap prices.
India is expected to be the largest contributor of absolute smartphone unit growth globally this year. The main reason behind this is the currently low smartphone penetration in the market together with a significant intensification of the competition amongst the smartphone vendors, which will drive ASP erosion allowing more affordable devices in the market.
The smartphone sales grew 10 percent in North America, but the market wasn’t as great in the central and easter European countries with only 3 percent improvement. Western Europe, Middle East & Africa, and emerging APAC regions noticed 9 percent, 24 percent, and 22 percent growth in smartphone sales respectively.