According to counterpoint Smartphone users in India to Cross 700 Million By 2020

1. According to counterpoint Smartphone users in India to Cross 700 Million By 2020 According to Counterpoint Research released on Friday smartphone users in India will exceed 700 million by 2020 and a billion smartphones will be sold in coming next five years. The Mid segment smartphones between Rs 14,000- Rs 29,000 are expected to grow at 20% CAGR (compound annual growth rate) in 2018 and by 400% in the next five years. This segment to become the most important segments in the smartphone market. The paper by Counterpoint 'India Mid-Tier Smartphone Segment and Opportunity for SoC Players' stated that the sales volume is moving from Rs 10,000 range to mid-tier as many features tend to diffuse through lower price range. Tarun Pathak, Associate Director at Counterpoint Research said "Features such as full- screen displays, dual-cameras, biometric security and support for Artificial Intelligence (AI) are beginning to make in-roads to the mid-range. They will become widespread over the next few years," These features in near future will be enabled and enhanced. India is currently the second largest market in smartphones after China. It has just surpassed 400 million smartphone users. This number to be increased drastically as it only accounts for 44 percent of the potential total addressable market for smartphones and the penetration of smartphones in India is yet to reach its peak. Research Director Neil Shah also quoted "Part of this lack of development can be attributed to the poor relative development of data-capable mobile networks and high data pricing. Upstart operator, Reliance Jio has catalysed a rapid shift toward 4G LTE, together with much more accessible data pricing," There will be a much bigger role played by SoC players in unlocking the potential of the mid-tier market segments. You can upgrade to latest smartphones by selling your old phone on www.recycledevice.com at best prices in hassle free way and get instant payment.