Published Date : May 16, 2016
Increasing adoption of smartphones and other handheld mobile devices has led to the rapid growth of the global mobile phone accessories market. Increase in disposable income across regions such as Asia Pacific and dip in the prices of smartphones have fuelled the market for mobile phones as well as for their accessories. In emerging economies such as India, China, Brazil, and Indonesia, sales of smartphones have surged, thereby creating secondary demand for accessories that are usually not sold along with smartphones.
Mobile phone accessories include charger, battery, headphone/ earphone, portable speaker, memory card, protective case, power bank, and others. The demand for protective case has been the highest and is expected to surge in the near future. The demand for chargers and headphone/ earphones is also anticipated to significantly increase in the coming years. As modern-day smartphone batteries are unable to withstand heavy usage, the demand for power banks is expected to increase rapidly.
The global mobile phone accessories market operates through a number of distribution channels such as online store, single-brand store, and multi-brand store. With the introduction of e-commerce, online stores are being preferred by consumers over single-brand and multi-brand stores. As a result, these brick-and-mortar distribution stores will witness a dip in their revenue in the near future.
Transsion Holdings Enters Indian Market
With its mobile brand itel, Transsion Holdings is entering in the Indian mobile phones and accessories market. The company is planning to roll out its business expansion in two phases. itel mobile will launch smartphones, feature phones, and mobile accessories in this regional market. India has emerged as one of the most potential markets for the smartphones and mobile accessories industry. Under the present government’s Made in India initiative, itel will build up manufacturing units in India. The company is partnering with Vodafone, Airtel, Samsung, Facebook, and others to offer better services to customers.