It seems Nokia brand is not only gaining market share in Indian market but also has manged to become profitable again in the market. In an interview to ET, Amit Goyal, the global business head( north & east) of HMD Global has claimed that HMD is already profitable in India.
This is a great news, as many smartphone vendors are competing with each other by offering cheaper and more cheaper phones in the price-sensitive Indian market. This strategy while offers volume growth in short-term ensures death of brands in log-run because of the losses they make. So, seems HMD has found the balance by offering well-built devices at good (not the cheapest) pricing and still manages to rake in some profit.
In another good news, Nokia brand is in the race to become 5th top smartphone vendor in India, as per the Q1 2018 report posted by Counterpoint Research. Currently Huawei Honor brand is at number 5 with 3% smartphones market share.
The race for the fifth position is quite close between Lava, Micromax, Honor, Nokia (HMD) and Lenovo (+Moto) brands.
Though when it comes to feature phones, Nokia brand has 7.3% market share and is ranked at fourth vendor position in Q1 2018.
We have been reporting about Nokia Smartphones and feature phones showing good traction in 2017. In fact even HMD confirmed in its MWC 2018 presentation that Nokia is one of top 5 smartphone brands in 15 markets. HMD was able to sell more smartphones than many well-known brands like HTC, Sony, Google, OnePlus, Lenovo In Q4 2017.
