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The smartphone is the most successful consumer device ever: the landmark of a billion upgrades in a single year is testament to this.
Just being in the smartphone industry, however, is no guarantee of success, and the market is becoming increasingly competitive. The challenges for smartphone vendors: retaining loyalty, taking share in a maturing market, maintaining margin, and determining which functionality their customers want at each point in time, are likely to get steadily more acute over time.
In addition to optimizing hardware, vendors will need to increment the range of intangible factors used to enhance their devices’ appeal. These range from the availability of technical support, to the ease of transferring data between the old and new devices and from the perceived security of client data to the caliber of the accompanying app store.
Vendors need to ensure that all functionality addresses current needs and anticipates latent ones. Incorporating superfluous functionality, or technology that is hard to use, will diminish profitability.
Offering cameras with ever-higher resolution may offer quality increments that few owners would be able to discern; whereas incorporating better low-light capability may have wider appeal, as the improvement would be more immediately noticeable.
Smartphone vendors should continue to work closely with carriers. In markets with subsidies and two-year contracts, upgrades have both advantages and disadvantages for carriers. They need to fund the upfront device cost, or offer the ability to pay in installments, but the upgrade also gives them a chance to lock in a customer, reduce churn and perhaps even sell them upgraded service levels. In markets with no subsidies, the vendors need to optimize pricing and features in order to appeal to retailers and consumers.
For purchases of the few hundred million smartphones by enterprises, the selection process can be more complex than for consumers. CIOs are unlikely to care too much about the need for a smartphone optimized for sharing holiday snaps; but the HR department may want to offer such devices to attract and retain staff. In some cases, phones that are more resilient and water proof may be perfect for field workers; and for companies needing additional security, finger print readers and NFC chips may be of particular interest.
India achieved the position, to be the fastest growing smartphone market in the World, accounting to over 27.5 million devices sold in the second quarter of 2016, which is up by 17% from the earlier quarter, as per the report shared by IDC. Same is the case with the Mobile subscription which we foresee to hit 1.4 billion by 2021. Evidently, everyone is looking at India as a huge landing ground for the big innovation and the next big step in the telecom industry.
Smartphones are no more just a mode to communicate; they are being used to do so much more and in ways never imagine before. They have turned smarter and better and with every launch we can witness a new technological update. Indeed the year 2016 witnessed a boom in the very dynamic smartphone Market in India.
Driven by 4G handsets and the Chinese entrants, the smartphone market saw a major boost from handset markets focused on new launches, higher spends on marketing and innovative payment options. However what has led to the growth of the market in the short period? And what do we foresee the future to be?
The wave of growth in India’s internet penetration is expected to come from tier II and tier III cities. The growth is expected to be fueled by availability of low-cost smart phones, low rates of data plans and development of smart cities in rural areas. The government led initiative ‘Digital India’ / ‘Smart Cities’ will certainly bring a boost for the mobile sector as that shall further emphasize on the banking services. The flexibility of technologies and convenience to use makes them capable of meeting the future needs of customers, merchants and service providers.
Also to add which, Mobile-initiated payments have finally gathered a momentum in India; it has been adopted not only by the cities but also by some parts of the rural areas across India. Recently, a village in Tamil Nadu named Khandalavadi was declared as the first village to go cashless and which started using mobile wallets for services such as topping up airtime and paying for food delivery, taxi and many more services.
As e-commerce, itself has moved to mobile with nearly 83% of people shopping online on their mobile phones. The growth in m-commerce has been fuelled by the availability of affordable smartphones and mobile data plans. Customers in the age group of 25-34 years are taking to their mobile phones to shop online and Mobile commerce is estimated to grow up to $19 billion by 2019. Demonetization will also favor the m-commerce industry in the country and most of the retail commerce will shift to mobile in the near future.
India has a large and growing millennial population – young, tech-savvy consumers with rising earnings potential and disposable income. This demographic has historically been and will continue to be, an early adopter of new technology and new models of media consumption. India therefore is a market which is ripe for digital media investments. The demographics are all stacked in India’s favor for digital consumption.
By 2017, India will have more than 350 million smartphones. Inexpensive smartphones and the roll out of 3G and 4G broadband infrastructure are rapidly coming together to leapfrog traditional distribution and democratize online access. Together, these factors are the foundations for accelerated digital media consumption.
Mobiles are used everywhere. In India mobiles are currently used primarily for passing and sharing information using SMS and voice. However, the use value added services is evident from the increase in share of revenues generated from value added services as a proportion of total revenues of mobile industry increased from 7.26% in June 2005 to 9.58% in September 2005; which amounts to more than 2% rise within a quarter. The corresponding figures for revenues for SMS show a rise from 5.25% to 5.4% . This rise has resulted from introduction of voting based participative TV Programs, voting on some socio-economic-political issues in Newspapers, SMS based contests on mobile, MMS etc. Students are major consumers of wallpaper, ringtone, mobile games, music and video clip download services available on portals as well as mobile portals. Other services like micro payment facility are also being offered though only by one or two operators. GPRS based services are being offered by mobile operators on a limited scale.The revolutionary success of India’s mobile industry is well known.
- India has more than 160 million Internet users, of which 86 million access Internet using their mobile devices
- In the last 3-4 years, the number of users who access the Internet through a 3G
- connection has grown to round 22 million, To put things in perspective, compare this with the 15 million fixed line broadband connections accrued over the last 17 years
- There are over 36 million smartphone users as against 60 million PC users.
- 9% of overall Internet pageviews in India come from mobile devices.
- Over 40% of searches on Google originate from mobile device.
- 30% of Facebook users in India are mobile-only Internet users and 30% of new registrations are coming through mobile
- LinkedIn ranks India among its top 4 growth markets for mobile usage
The increase of mobile phone usage has produced a new avenue for marketing applications and services.Mobile has become the leading way for accessing communications because setting-up mobile network is cost-efficient but also mobile provides greater flexibility and ease to users than landline phone .Mobile is the latest happening thing not only in India but in the world.By the advent of latest technologies in mobile handsets and sophisticated services by service providers in Indian Mobile telecom market is a buzz.Mobile entered in India in 1995 but penetrated so fast with in a decade that it has became a necessity for every individual.Not only in Indian urban market but rural market penetration is also great.Mobile subscribers have grown from 7.94 lakhs to 52.41 crores from December 1997 to December 2009.India is expected to have close to 165 millon mobile internet users by march 2015, up from 87.1% in december 2012.Making India the fastest growing mobile phone market. By using m- commerce we can access advanced mobile applications and highspeed services and we can use this devices remotely, anywhere, at any time. We can use the same hand held device for both Telecommunications and for bill payment and account evaluation. M-commerce is an advanced technology of e-commerce. In short, Mobile commerce is defined as the buying and selling of products and services through the use of wireless mobile devices.
COMMERCE:-Commerce deals with exchange of goods and services of economic value between producer and consumer.With invention of new technologies and methods, commerce has taken many forms.The way of dealing, exchanging of goods and services has undergone massive changes with days passed on.With competition emerging, consumers becoming more aware and having more choice, marketers searching for innovative ways to deals with customers to be in forefront to break the competition.
MOBILE COMMERCE:-Mobile Commerce is known as M-Commerce. M-Commerce are used to buy and sell goods by using the wireless devices like cell phones, personal digital assistants and other hand held devices that have operated with Internet access. By using M-Commerce we can access advanced mobile applications and highspeed services and we can use this devices remotely, anywhere, at any time. We can use the same hand held device for both Telecommunications and for bill payment and account evaluation.M-commerce is a subset of E-commerce’.
The time and space limitation are removed and we can access any time we need. It is a result of combining two strongly emerging trends: electronic commerce and omnipresent computing. It is online anywhere, anytime and on any device and is providing new business opportunities.
“Internet + Wireless + E-Commerce = M-Commerce”
FUTURE OF MOBILE COMMERCE IN INDIA
The future Mobile commerce is the next logical step for Indian merchants. With the growth of mobile phones and increased issuing and use of debit and credit cards, mobile commerce will deliver strong growth over the coming years. Mobile technology gives us the edge over our competitors. First Data’s mobile commerce solutions can help businesses meet the growing demands of the mobile and social media revolution. Social media networks such as Facebook are likely to increasingly become channels for sales and consumer engagement. First Data already offers a loyalty solution for the Facebook social media network as well as mobile payments opportunities using our Trusted Service Manager (TSM) service, which powers part of the Google Wallet which has made headlines recently. With Google Wallet, millions of consumers will no longer need to carry their leather wallets. This mobile application securely stores credit cards, offers, gift cards and more on their mobile phone. This virtual wallet is changing the face of commerce by enabling customers to simply make “tap and go” payments with their mobile devices, while increasing loyalty at merchant locations. Although m-commerce market in India is still in its initial phase, India is getting richer and phones are getting cheaper. It is also estimated that, by 2020, 80% of the mobile devices used in the country will be smartphones. Many e-tailers have realized the potential of mobile commerce in multiplying their sales and are rapidly adopting the necessary tools, with encouraging results. Snapdeal.com, for example, gets over half of its sales from customers using mobile devices, while even one year ago the share of mobile purchases was a mere 5%. Flipkart, the largest online shopping platform in India, receives 20% of its e-commerce orders from customers using mobile devices and plans to increase this number to as much as 50% in future. India has more than 100 million users in India, of which nearly 84 million access the site through mobile phones. This suggests the rise of the “mobile first” generation of internet users.
The following report details cell phone industry analysis, which deals with cell phone manufacturers as well as cell phone services. This analysis includes the dominant economic characteristics, Six Forces of Competition (Porter’s Five Forces of Competition), driving forces of the cell phone industry, strategic mapping of company strengths, the ease entry and exit into the cell phone industry, and the overall industry outlook.
Dominant Economic Indicators
- Market Size:
The cell phone industry is one of the fastest growths besides the Internet. Cell phones have gone through a huge change and its market has expanded globally. Since 1994, the cell phone industry has increased from 24 million to about 182 million in wireless phone and related devices operating in the United States with some 162-million mobile-phone users in the United States alone.
The cell phone market is increasing very fast with today’s ever-emerging technology and innovation in improving cell phones. Today, society is living with advance technology and everyone wants to keep pace with the new technologies. Cell phone industry is growing larger because it has become a necessity. Parents are getting mobile phones for their teens because they want to communicate in case of an emergency and the wireless carriers have made it easy to add users to their existing plans. And carriers are becoming successful in getting parents to expand their plans to include their teens. This increases buyers and increases market size worldwide.
- Scope of Competitive Rivalry:
The cell phone industry has become increasingly larger within the last three years as a result of more affordable cellular phones as well as lower service costs. Companies are competing in an advance technology and communication sector in which success attracts customers to buy their products and services. The market is very competitive because they offer the same products and services, but has different physical attributes to the phones and different costs, which buyers have choices to choose from. Companies want to provide the best products and services to attract buyers by lowering cost and improving products, which makes the cell phone industry very competitive.
Here are the main factors of competitive rivalry:
- Cell phone cost: Customers wants better services and products at a lower cost.
- Bundle functions into just one cell phone: For example E-mail, text messaging, internet
- New technology improvement: For example camera phones
- Better landline services
- Stage in Life Cycle:
The cell phone industry is in the Mature Life Cycle Stage, where nearly all-potential customers are already users of the industry’s product. The cell phone industry’s growth and profitability depends entirely on its ability to attract new customers. By increasing and improving the cell phones and services, it will attract more potential buyers, because technology alone will not attract buyers, instead companies want value-added services for mobile-phone securities.
Cell Phone companies attract buyers in two ways during the Mature Life Cycle State:
- Service: Making cell phone more affordable will attract buyers to buy more cell phones and increase competition between companies to lower service fee.
- Innovative Phone Style: The new designs and improvement in the physical appearance of the cell phones, and more add-on features attracts customers to buy it at a higher rate.