MUMBAI: Country's smartphone market is showing signs of maturity as lesser number of consumers are planning to buy new devices in the next one year, says a survey.
"Smartphone market has reached maturity...the percentage of consumers planning to purchase a smartphone in the next 12 months has dropped from a peak of 80% in 2014 to 68%," the survey conducted by US-based technology major Accenture said.
Over 80% of those surveyed said they already own a smartphone.
Almost 32% of consumers are dissuaded from buying smartphones either due to them being overpriced or because they are satisfied with their current device.
Additionally, 4% said they do not plan to buy a smartphone because there are no innovative features in the new devices that interest them.
"This seems to indicate that the consumer technology industry has not delivered a 'wow' factor attractive enough to consumers to drive replacement upgrades," the survey said.
The survey saw the participation of 1,000 respondents. It can be noted that there was a 23.3% rise in smartphone shipments in the country last year.
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