India has huge potential to become the second-largest smartphone market in the world. While smartphone penetration is still limited in India at the current stage, there is an enormous opportunity in the country as its 1.31 billion population is only less than that of China. In 2014, smartphones accounted for only 16.6% of the total mobile phone shipments in India.
LED manufacturers are branching into the niche application markets as the competition in their industry expands. Currently, entering the automotive LED market is regarded as a blue ocean strategy because the market has relatively few contestants and allows for higher pricing. According to the latest Gold Member Report – 2016 LED Market Demand and Supply Analysis by LEDinside, a division of TrendForce, the worldwide market value of exterior automotive LEDs for 2015 is expected to reach US$1.21 billion.