China is the country with the highest smartphone shipments in the world, followed until now by the US in second place. Two different research companies reckon that India has just overtaken the latter country.
Canalys claims that more than 40m smartphones shipped in India in the third quarter of this year, representing growth of 23% year-on-year. Meanwhile Counterpoint Research agreed with the second-place finding, but also estimated that once non-smartphones were added in, a record 84m mobiles shipped in India last quarter.
Chinese firm Xiaomi is the manufacturer making the biggest splash in India, making it an increasingly important player across the world’s two most populous countries.
As India’s smartphone market grows strongly, so too has the money flowing in to Indian tech startups. The Financial Times reports that non-public tech companies in India have raised more than $10bn in 2017 so far, compared to $7.9bn in the whole of 2016.
Admittedly, nearly $4bn of that is for a single company, e-commerce firm Flipkart. Still, we should be keeping an eye out for more Indian music startups at the periphery of this boom in both smartphone penetration and startup investment.