IAMAI expects India to surpass 400mn Internet users by Dec-2015 (+49% yoy), with over 300mn of those accessing the Internet from a mobile phone. IDC expects India to maintain double-digit growth in the smartphone market over the next few years, and for India to overtake the US as the second-largest smartphone market globally by 2017. India is now adding ~100mn Internet users annually, which mirrors the run rate of new smartphone shipments.
Globally, ~50% of the total mobile phone population is accessing the Internet from a mobile phone. In India, less than one-third of mobile subscribers are using Internet on their phones. Over last few years, the prices of smartphones have come down, which is a key driver of growth. As per IDC, ~50% of smartphones shipped in India are the sub-US$100 segment while in China it is ~20%.
