Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Smartphone shipments triple
BackBack

Smartphone shipments triple

Smartphone shipments rose 186% to 17.59 million during January-March

India is the fastest growing market for smartphones, according to International Data Corp. Photo: MintPremium
India is the fastest growing market for smartphones, according to International Data Corp. Photo: Mint

Smartphone shipments to India almost tripled in the quarter ended 31 March 2014 from a year earlier, making the county the fastest growing market for the devices, according to the International Data Corporation’s Asia Pacific Quarterly Mobile Phone Tracker report.

Smartphone shipments rose 186% to 17.59 million in the three months, from 6.14 million units in the year-ago period, as users upgraded from feature phones and prices fell. India’s smartphone penetration rate still hovers at a lowly 10%, leaving plenty of room for rapid growth. IDC expects smartphone shipments to India to hit 80.57 million units by the end of 2014 and grow at a compounded annual growth rate of around 40% for the next five years.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 04 Jun 2014, 11:27 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App