Rise of Micromax, Karbonn shows people want cheap, but smart phones

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SummaryThe iconic Apple posted a revenue of Rs 1,293 crore in FY 2013.

The Indian mobile handset market has grown by 14.17 per cent year-on-year to Rs 35,946 crore in 2012-2013, on the back of increasing sale of smartphones, according to a survey.

The 18th annual survey 'V&D 100' said that the Indian mobile handset market posted a revenue of Rs 35,946 crore in 2012-2013, compared to Rs 31,330 crore in the earlier fiscal year.

"The rise of smaller local players like Micromax, Karbonn, Lava and Zen was a clear indication that consumers wanted cheaper feature phones. The next phase of mobile penetration in India, now at the bottom of the pyramid, will be driven by these companies," says Ibrahim Ahmad, Group Editor, Voice&Data.

Homegrown handset company Micromax captured the number three position among V&D100 Top10 mobile handset brands for FY'13 and enjoyed a market share of 8.7 per cent and earned revenue of Rs 3,138 crore.

Closing in was Karbonn Mobiles, the company among the Indian handset players that grew most consistently.

In 2012-2013, Karbonn grew 73.1 per cent to register revenue of Rs 2,297 crore, with market share of 6.4 per cent, compared to Rs 1,327 crore in the last financial year, it said.

The iconic Apple posted a revenue of Rs 1,293 crore in FY 2013 in the country compared to Rs 250 crore in the previous financial year, occupying the fifth place, the survey report added.

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