"Nokia's drop in market share started when the company failed to sense the need of a dual-sim phone for the Indian consumer, and the same was tapped by the Indian players years ahead of global players like Nokia," it added.

Nokia's Lumia series phones that witnessed huge growth globally in the initial phases could not draw much attention in India.

The survey said Apple's revenues grew 417.2 percent to post revenues of 1,293 crore in FY'13 as compared to 250 crore in the year ago period.

Though India was never a focus market for the Cupertino-based smart devices maker till some years back, in the last two years, the iPhone maker has started making inroads slowly.

"In the last fiscal, Apple made some disruptive changes in its sales strategy, which paid off. Appointing Ingram Micro and Redington as the national distributors for their entire sales, and offering EMI schemes to the consumers to buy the most coveted Apple product changed the game for them," the survey said.

Apple now enjoys 3.6 percent market share in India having the smallest number of handset models in its portfolio.

Homegrown handset maker Micromax captured the third position with 8.7% market share. In FY'13, Micromax posted revenues of 3,138 crore as against 1,978 crore in FY'12, a growth of 58.6 percent.

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