For many years China is considered as one of the holy grail for manufacturers. Primarily, because of the huge numbers of Chinese people which interests sparks with the latest technology and gadgets.
Despite that there were already local brands in the country such as Huawei and Xiaomi. Still foreign tech giants such as (AAPL, Tech30) and Samsung (SSNLF) have ventured into the Chinese territory.
However, as technology improves and innovates, there is a new territory that the smartphone manufacturers dimmed to be the next big thing. The Chinese market is slowing down after the tremendous sales made by the tech companies.
What’s next after China? India’s population is a gold rush. The third largest market is India which as a whooping 1.3 billion population. More than that it is projected that by the year 2028 India will beat China in terms of population.
According to the Bernstein Research, the Indian market penetration can be compared to 36% in Brazil, 52% in the United States and 55% in China.
Furthermore, according to the research firm in India will be roughly 40% by 2020, at which point nearly 250 million smartphones will be shipped each year.
In Indian market, Samsung takes the lead. Meanwhile, Micromax an Indian electronics company also gain huge profits taking advantag of the country’s population. What makes the Indian market attractive to the manufacturers? For now, none of the giant tech companies dominates it. That is what makes the next China so appealing.
Considered to be one of the most aggressive company that setting an eye to the Indian market scene is the Beijing-based Xiaomi. A five-year-old company already worth $45 billion.
Google is also one of these companies. Hugo Barra, a former Google executive was dispatch last year to spearhead its move into India. Pertaining to the move Barra told Bloomberg, “It is the biggest market for us beyond China, it will someday be as big as China,” and added that, “We are coming into India with full force.”