Nokia’s market share being grabbed by Indian brands
Nokia Market Share is like writing on the wall
Nokia is losing its market share in the emerging market like India where it has a strong hold against the local brands. Local brands like Micromax, Spice, Karbonn, Lava, Lemon, Maxx and many more are giving tough competition to Nokia from past one year. The most common reason for fall in Nokia’s market share is because of mobile phone growth which is much more prominent in smaller towns and rural areas, compared to metros and big cities, as the masses are opting for low-priced Indian handsets as compared to nokia handsets. The Indian brands are offering them all features which is offered by Nokia, at a lower price! So the common man definitely opts for those which give them same features at lower price and which fits in their budget easily, thus giving rise to their market share.
According to the Industry survey it has been noticed that Nokia’s revenue has reduced owing to decrease in its market share from 64% to 52.2% in India.
The Indian brands’ market share has increased from 4% to directly 14%. And we expect it to surge further more, giving rise to an even more fierce competition to Nokia.
[via DNA]