Flipkart and Amazon are leading an online sales bonanza that will see Indians buy smartphones worth over $1 billion in just five days, according to tech consultancy Counterpoint Research.
The retail giants are tussling in the India market over smartphone sales and there seem to be enough customers to go round in the push to get 1.3 billion people smartphones.
Bangalore-based Flipkart said it sold 1 million devices during the first hour of its ‘big billion days’ shopping festival. By the day’s end, it had sold 3 million phones.
Flipkart has estimated its sales are responsible for 85% of all the phones sold in India.
Amazon is also having a filled day, reporting blockbuster device sales leveraging on the big Chinese brands that dominate the Indian Market.
More than 1 million phones from a single Chinese manufacturer — Xiaomi — were sold through Amazon India on Wednesday, according to the retailer. High-end smartphone maker OnePlus received bookings worth almost $55 million for its latest device.
Counterpoint Research analyst Anshika Jain said smartphone purchases are “absolutely” on track to cross the $1 billion mark by the end of the week considering continuing sales matrix.
“This has gone beyond the industry expectations,” Jain said on Friday.
The huge figures are yet another win for India’s booming smartphone market, the world’s second-largest behind China.
The rise in smartphone sales is as a result of a combined determination by the government and Tech companies to bring the rest of the country’s 1.3 billion people online. 300 Million Indians now have smartphones according to recent estimates.
The discounts on the devices have been responsible for the recorded high sales volume especially because it’s the type of sales promotion efforts that India’s price-conscious consumers find attractive.
“It’s insane, I don’t know how they do it,” said Kiranjeet Kaur, an analyst at research firm IDC. “I’m looking at the prices of almost all the smartphones and there is a significant drop.”
Online sales now account for 31% of smartphones bought in India, Kaur said. It grew from 20% from three years ago and the sales have been the reason for the increase.