During 2015 we saw a variety of smartphone manufacturers take steps to tap into the Indian market, one of the fastest growing on the globe. Those steps appear to be justified as the year ends on a report from India’s Telecom Regulatory Authority indicating the number of mobile-phone subscribers has topped 1 billion. India joins China as the only two countries to reach that plateau.
Besides the impact on smartphone manufacturers who see a ripe market for expansion, the Indian market is also ultra-competitive for carriers. India has 12 active operators trying to grab a piece of the subscriber pie. This is pushing profits down and even Fitch Ratings has downgraded their 2016 projection to negative for the Indian market despite the large base. Fitch expects consolidation in the industry to take place with only five or six operators emerging.