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China to top smartphone market

By 2016 India will be the third largest market

China will overtake the United States as the biggest marketfor smartphones amid a surge in low-cost handsets, a survey said.

The research firm IDC said China will account for 26.5percent of all smartphone shipments in 2012, compared to 17.8 percent for theUnited States.

IDC said it sees strong growth in India, which has thelowest smartphone penetration in the Asia region as operators roll out moreaffordable data plans and generous subsidies, and that it would be the thirdlargest market by 2016.

"Looking ahead, the PRC smartphone market will continueto be lifted by the sub-$200 Android segment," said Wong Teck-Zhung,senior analyst at IDC.

"Near-term prices in the low-end segment will come downto $100 and below as competition for market share intensifies among smartphonevendors."

IDC said the move to 4G, or faster mobile networks, isanother major growth catalyst and that growth is continuing in virtually allmarkets.

"The fact that China will overtake the United States insmartphone shipments does not mean that the US smartphone market is grinding toa halt," said IDC's Ramon Llamas.

"Now that smartphones represent the majority of mobilephone shipments, growth is expected to continue, but at a slower pace. There isstill a market for first-time users as well as thriving upgradeopportunities."

A separate survey said smartphones are set to make up amajority of the global handset market next year, fueled by surging demand fromconsumers in both wealthy and emerging nations.

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Welfare boosts rural spending

Rural spending topped urban consumption for the first time in 25 years, thanks in large part to a controversial government welfare scheme

Jason Overdorf | Global Post / For The Goan
Published Sep 6, 2012, 7:18 AM IST
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Welfare boosts rural spending

This is how you work an economic stimulus: Give money topeople that will spend it.Say what you want about tax breaks, bailouts and landconcessions for big business. But as my grandfather (a seed corn salesman) usedto say, nothing happens until somebody sells something. And nothing drivessales better than putting money in the hands of people who don't have any. Take some recent figures from India as a case in point. For the first time in 25 years (and possibly a lot…

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