Reliance’s LYF brand corners 13% LTE device market share in Q1: CMR

LYF brand has become the third largest LTE smartphone provider with 13% market share in the first quarter of 2016, according to data released by Cyber Media Research (CMR). Reliance Jio’s 4G services which come bundled with LYF smartphones has been the only driver for LYF’s growth in the quarter. Under the LYF smartphone, Reliance offers a number of Voice over LTE (VoLTE) ready smartphones with prices starting from Rs 3,999.

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LYF handset

Reliance is currently sourcing these smartphones from Chinese original device makers (ODMs) ZTE, C K Telecom, WingTech and Tinno. Earlier, market research firm IDC had also come up with a similar study which said that Reliance grew sharply and replaced Lava as the fifth largest smartphone vendor with huge shipments of 4G devices in the first quarter of 2016.

In a note, CLSA, has also said that Reliance LYF has a potential to become a $1 billion brand in India, as it is well positioned to benefit from the launch of Jio’s 4G services as well as the ongoing smartphone boom in India. It added that Reliance Retail’s strong distribution network, better brand appeals at entry level, and initial bundling of Jio’s 4G services could significantly push LYF handset sales in the counter.

According to CMR’s quarterly LTE report, Samsung and Lenovo were the top two LTE smartphone vendors in the quarter with 32% and 14% market share, respectively. It added that China’s LeEco had made an impressive entry in first quarter with 2.4% share in 4G smartphones.