India’s smartphone market seems to have recovered from the impact of demonetisation with sales growing by 4.7 per cent to 27 million units in January-March 2017 compared to the previous quarter, says a report. The first quarter of the year saw smartphone shipments growing at ‘healthy’ 14.8 per cent over the year-ago period, the report by research firm IDC said.
The Government’s move to scrap high denomination notes in November last year had resulted in over 20 per cent fall in shipments in that quarter over the preceding quarter. However, with digital payment options becoming more mainstay and cash transactions picking up again, smartphone sales in the country have recovered, say industry watchers.
As per IDC, China-based vendors continued to strengthen their grip in the Indian smartphone market, capturing 51.4 per cent share of the smartphone shipments. “The China-based vendors were already bringing majority of devices in 4G segment, which benefited them in leveraging the 4G wave demand in India,” IDC said.