5 days, $1 billion: Flipkart and Amazon spur Indian smartphone bonanza

as mentioned in New Delhi (CNN Business) The battle for India's online shoppers has triggered a smartphone gold rush. Flipkart and Amazon are leading an online sales bonanza that will see Indians buy smartphones worth over $1 billion in just five days, according to tech consultancy Counterpoint Research. Bangalore-based Flipkart said it sold 1 million devices during the first hour of an online phone sale on Thursday that was part of its "Big Billion Days" shopping festival. Acquired earlier this year by Walmart ( WMT ), Flipkart estimated that its sale accounted for more than 85% of all smartphones sold in India on Thursday. Amazon ( AMZN ) also reported blockbuster device sales during its "Great Indian Festival" sale on Wednesday, cashing in on the big Chinese brands that dominate the Indian market.

Huawei charts new strategy to win Indian smartphone market; plans $100 million investment, Telecom News, ET Telecom

However, India is completely a different market with 4G just start to expand. Hence, It's time to expand and invest in India," Xu said. Huawei and Honor had a combined market share of 3% in the July-September quarter, similar to the previous quarter, as per Counterpoint Research. "Huawei/Honor has done well this year by expanding its product portfolio. However, it still needs to scale its operations in the offline segment.

China's BBK is second in Indian smartphone market, courtesy these brands - Latest News

as declared in Since then, both Apple and Lenovo-Motorola have lost ground in volume market share as per market trackers. Also owned by BBK, OnePlus hasn't declared India revenue yet.OnePlus emerged as the largest brand in the premium segment overtaking Apple and Samsung in the April-June quarter as per tracker Counterpoint Research. Both Oppo and Vivo crossed the Rs 10,000-crore sales milestone in the Indian market in FY18, as per RoC filings. Oppo's net loss last fiscal increased to Rs 357.8 crore from Rs 41.9 crore in FY17, while that of Vivo rose to Rs 120.4 crore from Rs 113.9 crore. An industry executive said the losses of Oppo and Vivo had risen last fiscal as both had been spending a lot of money on marketing and retail expansion to gain market share.

collected by :John Smith