The demonetization in India, which is announced by the Prime Minister Mr. Narendra Modi has resulted in an initial fall in the smartphone selling in India. But a few months after this process, it is seen that the market came back quite strong with an increase in the number of consumers. Do you know the reason? It is because people started believing that a smartphone is very much necessary for carrying out a lot of financial transactions in the future. So, they were forced to buy a smartphone, even at a minimum possible price.
People belonging to the economically backward section found it very much difficult to purchase a smartphone for daily usage. Here comes the importance of the low budget smartphones which comes at a very affordable price to even those sections of people. Nowadays phone have become so cheap that you can buy best mobiles under 5000.
Most of the low budget smartphone manufacturers have marked a very good profit in the first quarter of 2017 and all of them are thanking Mr. Modi for this. If this situation continues, it will be seen that almost all the Indians will have a smartphone of their own by the near future. This will surely make some other benefits in the process of building a digital India as well. People will use the smartphones for most of their transaction which in turn will help in reduction of corruption as well. Moreover, there will be a lot of improvement in the technologies associated with mobile phones as well. Considering all the above points, we can say without any doubt that the demonetization had a very good effect in the smartphone market of India.