LG, Sony to exit entry-level smartphone market
LG and Sony have decided to leave the entry-level smartphone market due to high proliferation of the segment by local and Chinese handset makers. The market shares of LG and Sony in 2015 stood at 0.4% and 1.5%, respectively. Currently, the entry-level smartphone market is dominated by Samsung, Micromax and Intex with market shares of 26%, 16% and 10%, respectively.