Spice To Launch Android One, Firefox OS Budget Smartphones Before Diwali

Ramakrishnan added that the numbers could change depending on the response to the new devices coming in.

Smartphone sales in the country grew almost three-fold to over 44 million in 2013, buoyed by affordable devices made by local firms such as Micromax and Karbonn, according to research firm IDC.

In the first quarter of 2014, 17.59 million smartphones were shipped in India compared with 6.14 million in the same period of 2013.

While Samsung is the category leader with a 35 percent market share, Micromax had 15 percent, Karbonn 10 percent, Lava 6 percent and Nokia 4 percent in Q1, IDC said.

Low-cost handsets prices less than 5,000 and smartphones not costing more than 7,000 from Asian handset makers including Huawei, ZTE, Micromax and Karbonn have been driving growth in the emerging markets of Asia and Africa.

Spice will also invest 160 crore during the fiscal (July 2014-June 2015) for various  advertising and marketing campaigns.

"About 85 percent of our portfolio is priced under 8,000. We are focussed on tier II and III cities and towns.

Though we have higher priced models as well, but we are seeing very high growth rates between 250-300 percent in the smaller markets," he said.

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