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GST Won't Impact Growing Smartphone Market: GfK

GST Won't Impact Growing Smartphone Market: GfK

By Indo-Asian News Service | Updated: 25 July 2017 16:13 IST

Highlights

Overall smartphone demand in India will hit 234 million units in 2017
GST is said to have no impact on smartphone demand in the country
The global smartphone demand totalled 347 million units in Q2, 2017

The overall smartphone demand in India will hit 234 million units in 2017, an increase of 11 percent year-on-year (YoY) and the Goods and Services Tax (GST) would have no impact on smartphone demand in the country, global market research firm GfK said on Tuesday.

"Smartphone demand in India also remained resilient in the second quarter of 2017, having levelled out slightly to 14 percent year-on-year. This represents the strongest growth across all regions for the year," it added.

Smartphone demand in the 'Emerging Asia' region hit 56.7 million units - up 13 percent year-on-year.

Bangladesh and Malaysia powered most of this growth.

"In Bangladesh, smartphone demand grew by a strong 40 percent year-on-year. Malaysia is maintaining a steady recovery from its 2015 slump and here, demand in 2Q17 grew by 31 percent year-on-year," the report noted.

The global smartphone demand totalled 347 million units in the second quarter of 2017, up four percent year-on-year.

"This makes it the strongest second quarter on record. Emerging Asia led the demand growth with a 13 per cent year-on-year increase, followed by Central and Eastern Europe at 11 percent, and Latin America at 10 percent," GfK noted.

"The record demand for smartphones in the second quarter this year shows that, despite saturation in some markets, the desire to own a smartphone is a worldwide phenomenon. How that manifests itself differs widely by region," said Arndt Polifke, global director of Telecom Research at GfK.

In China, smartphone demand plateaued in the second quarter of 2017 at 110.1 million units, showing no change year-on-year.

Manufacturers are maximising all their creativity to ensure their latest devices are irresistible.

"Elsewhere, macro-economic factors and consumer confidence are having an impact, but operators and retailers are employing localised tactics to ensure the smartphone remains the connected device of choice," Polifke added.

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