Asian countries namely India, China and Indonesia are being seen as major contributors in the predicted 22.5% growth in smart phone market in 2013. A mind boggling 837 million smart phones are going to be sold this year. Out of the 70-80% of the 22.5% growth, the BRIIC countries are poised to be the main contributors. BRIIC includes Brazil, Russia, India, Indonesia and China.
BRIIC countries have been predicted to contribute 38% of the total number of phones that will be sold in the New Year. These countries have shown a compound annual growth rate of 19% in the last few years; a lot higher than their western counterparts.
These countries show a great potential for the smart phone market; a market that has shown some good performance recently. If you look at China, it will have 240 million new smart phones this year. This makes it more than the US which will have 125 million new smart phones.
In China, the domestic market is making big moves and wooing smart phone customers with their attractive prices. This will put plenty of pressure on all the established global brands in the country; which will find it tough to penetrate the smaller Chinese cities.
The Chinese brands are also tapping the markets outside. They have announced their expansion plans in other countries. Brands like Lenovo,Huawei and ZTE are aiming at markets in India, Taiwan, Russia, South East Asia and Latin American countries. However, the other local Chinese brands have
yet got to get their act together.
While the Chinese market is the one you need to watch, the other developing countries are not far behind. Local mobile vendors are making progress in the respective countries. Watch out for China, India, Brazil and Indonesia.