Mobile handset vendors registered 22 percent jump in revenues to Rs 1.36 lakh crore in 2016, with Samsung and Apple accounting for the largest shares in terms of value, research firm CMR on Tuesday said.
The vendors had registered revenues of Rs 1.12 lakh crore in 2015.
Samsung garnered 33 percent market share during the year with revenue standing at Rs 45,371.3 crore, followed by Apple (8 percent) and Lenovo (seven percent) with revenues of Rs 11,297.5 crore and Rs 9,980.6 crore, respectively.
Revenues from sales of 4G smartphones increased by over 100 percent to Rs 9,927.4 crore in 2016, while that of 3G devices declined by about 60 percent to Rs 16,597.8 crore.
Although revenues from feature phones constituted a very small chunk at around 14 percent, in terms of volume they hold about 57 percent of the market, the report said.
"In 2017, there would be major knock offs and the industry will see consolidation. 2017 is going to be a disruptive year as vendors come out with their unique propositions such as more RAM, higher battery capacities, among others," CMR said.
It added that the re-entry of Nokia in smartphones and exit of smaller players will be some of the important factors driving the Indian mobile handset market.
In terms of number of handsets sold, Samsung led the market with 25.3 percent share, followed by Micromax (10 percent), Intex (9.9 percent), Lava (8.1 percent) and Karbonn (6.8 percent).
Homegrown players like Micromax and Lava would look forward to Rs 6,000-10,000 smartphone market, where they will primarily fight it out with the likes of Xiaomi and Lenovo, CMR said.
Also, in the premium segment, new models of Samsung, Apple and OnePlus would be worth to watch, it added.
Published Date: Mar 01, 2017 11:18 am | Updated Date: Mar 01, 2017 11:18 am