India pips Japan to become world's third largest smartphone market: Study

London, June 27 (ANI): India has been ranked the third largest smartphone market in the world pushing down Japan, a new study has revealed.

According to Express.co.uk, the study by market research experts Strategy Analytics has found that India has moved ahead of Japan as during the first quarter of 2013 smartphone sales in India increased by 163 percent.

The study revealed that the increase in sales is due to the improved distribution networks for Samsung, Apple and Indian firm Micromax and the key brands driving the rise include foreign firms like Samsung and Apple.

However, the study pointed out that domestic players are experiencing faster growth such as Micromax, Karbonn and Spice which have grown between 200 percent and 500 percent on a yearly basis.

The report added that leading India in the smartphone market are China and America. (ANI)

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