South Korean consumer electronics company Samsung continued leading the Indian smartphone
Indian brands like Micromax, Intex and Lava lost a significant amount of market share during the quarter, mostly because of the central government’s controversial decision to demonetize Rs. 500 and Rs. 1,000 banknotes without any prior warning in a country that still does most of its transactions via cash.
Xiaomi spotted on number two on the country’s list of largest smartphone vendors. Xiaomi recently announced that it earned $1 billion in revenue in India last year.
This study conducted by Canalys also confirms earlier reports of the phenomenal growth of Chinese smartphone companies in India over the past couple of years. That being the case, three other China-based brands have now entered the top-five list in India alongside Xiaomi. OPPO came in at number three with a 9% share of the country’s smartphone market during the past quarter.