The Market: At 4.8% Y/Y, the market exhibits decent annual growth although is seasonally down sequentially as the effects of the Lunar New Year holiday impacts together with some poor weather conditions in some areas and a short month limited retail sales.
Smartphones: Negative penetration growth, it decreased -.3% M/M, but increased 11.2% Y/Y. February 2015 smartphone penetration was about 76.7%. The annual growth is driven mainly by smartphone price erosion and increasing sales of 4G. LTE represented 59% of all smartphones sold in February, and a 27.5pp Y/Y increase.
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