New Delhi, Sep 28: More than a billion smartphones will be sold in India over the next five years, taking the number of users to surpass 700 million by 2022, Counterpoint Research said on Friday. Mid-range smartphones (roughly Rs 14,000-Rs 29,000), will grow 20 per cent (year-on-year) in 2018 and by almost four times during the next five years to make it one of the most important smartphone segments in India, the market research firm added. Microsoft to Discontinue Support for Skype 7 Classic and Lower Versions by Next Month.

The sales volume sweet spot is moving from sub-$150 (nearly Rs 10,000) segment towards mid-tier as many features and capabilities common among flagship models, progressively diffuse through to these lower price bands, noted Counterpoint's white paper on "India Mid-Tier Smartphone Segment and opportunity for SoC players". Facebook Accepts Usage of Phone Number to Target Users With Ads.

"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," said Tarun Pathak, Associate Director at Counterpoint Research. Many of these advanced features will be enabled and enhanced through the evolution of the underlying System-on-Chip (SoCs) and other components. OPPO Find X 10GB Variant Under Works, Likely to Be Introduced Soon.

"These features will help OEMs to differentiate their offerings in the mid-tier segment at a time when overall smartphone innovation is perceived to have plateaued," Pathak added. Apple iPhone XS, iPhone XS Max Online Sale Today in India via Flipkart, Paytm Mall & Authorised Retailers: Here’s How You Can Buy One

India is the second largest smartphone market in the world after China. It has just surpassed 400 million smartphone users. However, this accounts for just 44 per cent of the potential total addressable market for smartphones as the country is underpenetrated relative to many other markets. Flipkart's ‘The Big Billion Days’ Sale Dates Announced; Discounts & Offers on Smartphones, Fashion, Appliances, Electronics & More.

"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," noted Research Director Neil Shah. Galaxy A7, Samsung's First Triple Camera Smartphone Launches in India at Rs 23,990.

Looking at the competitive environment, the top five brands contributed to 92 per cent share of the mid-tier segment in India. Samsung, Vivo, Apple, OPPO and Huawei were the leading brands in the first half of 2018.  Xiaomi Smarter Living Event Launches New Mi LED Smart TVs, Mi Air Purifier 2S and Mi Home Security Camera 360.

"However, we expect competition to increase in the segment as more brands enter including Xiaomi, Asus, Nokia HMD and others," said the white paper.

The role of SoC players is critical to unlocking the potential of the mid-tier market segments.

If done successfully, we believe the mid-tier segments will grow almost four times in volume over the next five years in India. To enable this growth, cutting-edge solutions such as Qualcomm's Snapdragon 710 are required on a broad scale.  Realme 2 Pro Launched in India Starting From Rs 13,990; Online Sale Starts on October 11 Exclusively via Flipkart.

"Qualcomm already has a strong presence in key brands in the mid-tier. The Snapdragon 710 can further strengthen Qualcomm's share within key brands in the mid-tier segments as it has in the $100-$200 lower-tier segment," the white paper added.

(The above story first appeared on LatestLY on Sep 28, 2018 01:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).