New Delhi, Mumbai, Hong Kong, Seoul, London, Buenos Aires
May 8th, 2018
4G Smartphones now contribute to 42% of total smartphone shipments even though telcos only recently started 4G operations
With recent hike in duties, some OEMs started assembling locally in Q1 2018
According to the latest research from Counterpoint’s Market Monitor program for Q1 2018 (Jan-March), the Bangladesh Smartphone Market declined 18% Y-o-Y and grew 3% sequentially.
Chinese brands continue to grow in Bangladesh and now capture 38% of the smartphone segment, growing 25% YoY.
Commenting on the findings, Tarun Pathak, Associate Director at Counterpoint Research said, “Bangladesh’s Smartphone Market declined 18% YoY as consumers decided to postpone their device purchases in anticipation of value for money 4G smartphone offerings in the coming quarters. 4G network rollouts started during Q1 2018 by leading telcos such as Grameenphone, Robi Axiata and Banglalink. As network coverage expands over a period of time, the demand of 4G smartphones will pick-up in the coming quarters. According to our estimates, the overall smartphone market in Bangladesh will grow 16% YoY in CY 2018”
Highlighting the competitive landscape of Bangladesh’s smartphone market, Satyajit Sinha, Research Analyst at Counterpoint Research said, “Even with the onslaught of Chinese brands with affordable offering in the sub $100 segment, local brand Symphony continues to lead the market with its value-for-money offerings. Walton, another local brand, grew 74% YoY as it expanded its presence in rural Bangladesh. iTel was the fastest growing smartphone brand (+564%) as it captured the third spot in the smartphone segment with its aggressive channel strategies. Going forward, expect strong competition among the top five brands.”
Mr. Sinha, further added, “OEMs will have to consider investing in local assembly. With the recent hike in import duties, some OEMs have already started assembling locally and this can give them an edge over other brands in terms of pricing. Walton has already started local assembly and other leading brands such as Transsion, Symphony, Lava and Samsung have outlined plans to start assembling soon.”
Exhibit 1: Bangladesh Smartphone Shipments
Source: Counterpoint Research Market Monitor Q1 2018 Report
Smartphone Market Summary:
Exhibit 2: Bangladesh Smartphone Shipment by Broad Category Q1 2018
Source: Counterpoint Research Market Monitor Q1 2018 Report
The comprehensive and in-depth Q1 2018 Bangladesh Market Monitor is available for subscribing clients. Please feel free to reach out to us at press(at)counterpointresearch.com for further questions regarding our in-depth latest research, insights or press enquiries.
The Market Monitor research is based on sell-in (shipments) estimates based on vendor’s IR results, vendor polling triangulated with sell-through (sales), supply chain checks and secondary research.
Analyst Contacts:
Satyajit Sinha
+91 8420527030
satyajit@counterpointresearch.com
Tarun Pathak
+91 9971213665
tarun@counterpointresearch.com
Neil Shah
+91 9930218469
neil@counterpointresearch.com