Sri Lanka mobile device market has observed a surge in sales in CY 2014. Noticeably, the smart phone business has been growing exponentially year-on-year and Q4 2014 was no exception.
According to International Data Corporation (IDC), the overall mobile phone market in Sri Lanka touched 1 million mark in Q4 2014. Smart phones contributed approximately 22% to the overall mobile phone market as the demand observed a continuous surge in the year. The data however, is exclusive of grey imports that are shipped to the country through illicit channels.
Click To Tweet: Sri Lanka Mobile Phone Market Touches One Million Mark in Q4 2014, Says IDC
Jaideep Mehta, Managing Director, IDC South Asia expressed his delight, "Sri Lanka is becoming increasingly an important IT market, and IDC is seeking to fulfil its mission of entering markets ahead of the curve, and then producing world class market intelligence for the benefit of its customers. This move will bring us closer to the local markets and ensure accurate tracking of important IT domains."
Globally, there has been a rapid migration of end users from feature phones to smart phones and Sri Lanka is no exception. The feature Phone category continued to plummet both sequentially and annually to reach approximately 78% of the overall mobile phone market.
"The economy of Sri Lanka is now focusing on long term development and inclusive growth, the impact of which is seen on shift in investment priorities. Whereas, previously a high proportion of population use to invest in feature phone, the preference is now shifting towards smart phones. Also, the low cost options available at entry level smart phones have led to the rise in demand. " Says Raj Nimesh, Senior Market Analyst, Client Devices, IDC South Asia.
Top 3 Smartphone Vendor Highlights
Samsung: With approximately 30% share, Samsung leads the market in the smart phone category. Samsung continues to be one of the most preferred smart phone brands in the country. Galaxy S Duos remains to be the hero product series for Samsung.
Huawei: Huawei grabbed second position in smart phone category with close to 18% market share. The brand continues to enjoy a good reach in both top cities and upcountry markets, as their products are distributed exclusively through one of the most trusted names in the country, SINGER.
Nokia: Nokia stands third in smart phone market with close to 9% market share. Higher brand recall owing to their feature phone penetration continues to drive their business in the country. However, the brand might soon find itself competing closely with Indian vendors Micromax and Intex as they gear up to gain higher market share in the country.
IDC Forecast
The Sri Lanka market is observing an economical shift. Reductions in unemployment levels, subsiding inflation and focus on inclusive growth have further resulted in improved spending from end users.
"Factors such as higher inclination towards technology, emphasis on 4G adoption and an increasing migration from feature phones to smart phones will continue to drive overall volumes in CY 2015. With more vendors targeting the local market, we also foresee a shuffle in overall vendor ranking in CY 2015. " Comments Kiran Kumar, Research Manager, Client Devices.
For more information on the "Sri Lanka Mobile Phone market" please contact:
Kiran Kumar, Research Manager, kkumar@idc.com
Raj Nimesh, Senior Market Analyst, rnimesh@idc.com
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semi-annual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools. The IDC Tracker Charts app allows users to view data charts from the most recent IDC Tracker products on their iPhone and iPad.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. In 2014, IDC celebrates its 50th anniversary of providing strategic insights to help clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.
All product and company names may be trademarks or registered trademarks of their respective holders.
Photo caption :
Smart Phone vs Feature Phone Market Share in Sri Lanka Q4 2014
Overall Mobile Phone Vendor Share - 2014 Q4
Smart Phone Vendor Share, 2014 Q4
No comments:
Post a Comment