Reliance Retail's handset brand Lyf has sold over 7 million smartphones since launch in January last year, a top executive said Monday.
"About 2.8 million devices (including accessories) have been sold in the last three months and over 7 million sold since launch," Sunil Dutt, president - devices, Reliance Retail said on the sidelines of a news conference to announce the quarterly results of Reliance Industries.
Owing to sheer volumes, Lyf has managed to grab and keep the No 5 spot among smartphone brands in India with a 7% share of the market as of September-end, last year, as per International Data Corporation. The devices arm of Mukesh Ambani-owned Reliance Industries Ltd., of which Reliance Retail is a part, recorded a growth of about 21% in volumes in the quarter ended September, over the previous quarter.
"With the commercial launch of Reliance Jio Service with attractive introductory offer, the LYF branded smartphones saw a sharp demand with reports of stock outs at some locations. Apart from its entry level Flame series, Water series also contributed to the growth," analysts at IDC had said.
After disrupting the smartphone segment, the company is now looking to take on the featurephone market with 4G Volte enabled devices that may be priced under Rs 1,500. Market sources say that the devices are expected within this quarter.
"There is market for it (4G Volte featurephone) but we have to see if enough ecosystem supports it and if we will enter that ecosystem," Dutt said.
Lyf got into the top five smartphone players back in April, when Counterpoint Research said that the brand had cornered a 7% share in the first quarter of the year, on the back of high demand for LTE phones in India as two of three smartphone shipped was capable of offering high speed broadband or 4G services.
"About 2.8 million devices (including accessories) have been sold in the last three months and over 7 million sold since launch," Sunil Dutt, president - devices, Reliance Retail said on the sidelines of a news conference to announce the quarterly results of Reliance Industries.
Owing to sheer volumes, Lyf has managed to grab and keep the No 5 spot among smartphone brands in India with a 7% share of the market as of September-end, last year, as per International Data Corporation. The devices arm of Mukesh Ambani-owned Reliance Industries Ltd., of which Reliance Retail is a part, recorded a growth of about 21% in volumes in the quarter ended September, over the previous quarter.
"With the commercial launch of Reliance Jio Service with attractive introductory offer, the LYF branded smartphones saw a sharp demand with reports of stock outs at some locations. Apart from its entry level Flame series, Water series also contributed to the growth," analysts at IDC had said.
After disrupting the smartphone segment, the company is now looking to take on the featurephone market with 4G Volte enabled devices that may be priced under Rs 1,500. Market sources say that the devices are expected within this quarter.
"There is market for it (4G Volte featurephone) but we have to see if enough ecosystem supports it and if we will enter that ecosystem," Dutt said.
Lyf got into the top five smartphone players back in April, when Counterpoint Research said that the brand had cornered a 7% share in the first quarter of the year, on the back of high demand for LTE phones in India as two of three smartphone shipped was capable of offering high speed broadband or 4G services.
