Faisal Siddiqui, VP and Country Head at HTC India, said that India is among the top five fastest growing markets for the company, and he plans to make it among the top three markets for the HTC.
“In the last six months we have seen significant growth in India. We had launched five devices in the same period, and they have seen phenomenal response from Indian user. This gives us the confidence of doubling our market share in the next 12-18 months,” said Siddiqui, according to a Business Standard report.
While the company has strengthened its position in the entry-level smartphone market with devices like the Desire 210, Siddiqui explains that it's an incredibly hard segment to be in. Product lifecycles are short, profit margins are low and the competition is incredibly high, but the potential for growth is too huge to ignore.
India is the fastest growing smartphone market in the world, and according to India's largest e-retailer bulk of the action lies in the Rs 6,000 to Rs 10,000 price bracket. Samsung was a dominant player in the segment, but homegrown manufacturers soon ate into this segment with ever cheaper models.
Now however, we have a renewed focus of global smartphone giants in the sub-Rs 10,000 smartphone segment, with software giant Google providing a boost with initiatives like Android One. HTC too is among the manufacturers to sign up for the program, enabling it to take on veterans of the low-cost smartphone space.
Apart from products, HTC is also growing its presence in India by increasing the number of retailers stocking its devices. The company wants to have 10,000 sales outlets by the end of this year, with a presence in 300 Indian cities. The company will also open experience zones for customers to try out all its products in major cities, allowing them to get a feel of HTC's devices even if they plan to purchase the devices online.