Indian
Smartphone shipment witnessed robust growth during July - Sept 2016 & all
of us were very optimistic that Festival season supported Oct-Dec 2016 quarter
will break all records. The Demonetization initiative by Indian government on
Nov 8, 2016 acted as body blow for Smartphone industry. The Demonetization of
500 & 1000 currency note used to be the main denomination Indian Citizen
used to carry while going for shopping.
The
stringent exchange policy and crisis of cash in the system impacted more or
less all industry segments. The Indian Smartphone industry is based on cash
transaction system in the retail segment and there is no demand there as common
people don't have cash to even run their family.
The
online industry also got impacted badly and their sales may witness 50% lower
off take. When well off buyers were forced to pay tax bill by Paytm then we can
imagine the situation. Most of the Smartphone player are sitting on huge inventories
& maintaining a wait & watch strategy. The empty market indicates that
common people are fighting hard to fulfill their daily requirement & shying
away from luxury item shopping.
Based
on the market analysis Oct month went exceptionally well for Smartphone player
but Nov and Dec seems very difficult month for them. We are expecting that
Smartphone Shipment may fall upto 35% q -o-q and demand may return only in
March or April 2017.
Let us know your views by downloading Qsurvey from Google play. You
can find much more interesting survey over there.
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- Smartphone Sale May Witness Steep Fall In India - Thanks To Demonetization
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