The Economic Times has published a report which shows how the market for luxury mobile phones is on a steady rise in India. The study follows how even among the rise of low-cost alternative brands like micromax , spice , lemon ; the market for the ultra luxury devices keep on increasing.
Brand like Georgio Armani, Versace, Chrristian Dior and Tag Heuer are commanding a market share worth $20 million. The market for these devices is increasing at 20% per year.
“Customers are increasingly becoming more design and brand conscious, especially when it comes to mobile phones,” says Ranjit Yadav, director – mobile & IT, at Samsung India.
Interestingly, these phones are not smart phones. They don’t come with Internet packages and dedicated music downloads. They are pure lifestyle products. They compete with luxury watches, not with the iPhones and BlackBerrys.
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