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Avnet’s Prince Yun: Smartphone Boom is Just the Beginning of India’s Tech Sector Surge

Tuesday, May 29, 2018 9:17 am MST

In a recent interview with DigiTimes, Prince Yun, regional president, Taiwan and South Asia, Avnet, noted that while market demand in India for smartphones is expected to officially surpass that for feature phones in 2018, this growth is just the tip of the iceberg for the region’s economic development.

With a population of over 1.3 billion, and estimated annual GDP growth ranging from six to eight percent, India is a market that should not be underestimated. Yun explained that the Indian government’s production localization agenda-evidenced by increasing import tariffs on mobile devices, wearable devices, smartphone components, TFT-LCD panels and OLED panels-portends an emerging “Made in India” movement that will dramatically boost industrial development in the region.

In particular, Yun is expecting “explosive growth” in Industrial IoT applications in India. “The demand for water meters or electricity meters in India, for instance, is far beyond imagination for Taiwan as a market with only 23 million people, as the country has hundreds of thousands of households. With wireless communication technologies, related public utility units could easily collect water and electricity usage data of household users to facilitate collection of proper water and electricity bills. This is exactly a concrete materialization case for IoT and big data tech applications, providing huge business opportunities,” he stated in the DigiTimes interview.

Avnet entered the India market in 1998, and now has over 100 employees in the region, including 70-80 people in Bangalore and a presence in Delhi, New Delhi and Mumbai. Read more of Yun’s insights on the emerging opportunities in India at https://www.digitimes.com/news/a20180523PD206.html.

Learn more about Avnet’s Asia-Pacific operations at https://www.avnet.com/wps/portal/apac/.

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Avnet Regional President Prince Yun