It's no secret that India is a high-priority emerging market for Apple. But the latest industry data shows that both Apple and Samsung are losing ground - and fast - to the makers of substantially more affordable devices.
Sales growth at Bangalore-based Karbonn Mobiles India Pvt. and Micromax Informatics Ltd. (MICRO) is being fueled by Indians buying their first smartphone to surf the Internet, which will be accessed by more than 300 million people by 2017. Their secret: the price.
“India is poised for a smartphone boom; just look at the Internet penetration and potential,” Deepak Mehrotra, CEO of Micromax, tells Bloomberg. “But we don’t see any point to offering a Ferrari.”
As MMi reported at the close of 2012, Apple is now authorizing the use of payment plans to help prospective iPhone buyers more easily secure the smartphone inside of India.