Under the terms of the agreement announced on Monday, Intex will introduce Digital Turbine’s mobile delivery platform to a limited number of mobile devices.
Digital Turbine (NASDAQ:APPS) announced a multi-year agreement with Intex Technologies under which Intex will introduce Digital Turbine’s mobile delivery platform to a limited number of mobile devices.
Digital Turbine, a mobile platform that connects mobile operators and original equipment manufacturers with app developers, said in the Monday (August 20) release that its mobile delivery platform on Intex devices will improve app discovery and engagement for end users.
According to a report by IDC, smartphone companies shipped over 30 million units to India in the second quarter of 2018, which translated to 20 percent year-over-year growth. The firm predicts that the Indian smartphone market will continue to see double-digit growth over the next couple of years.
“India will be the fastest growing large smartphone market for the next few years, making it a must for any smartphone player to be here,” Navkendar Singh, research director at IDC, said in a release.
Intex, a leading mobile and consumer electronics company in India, is a key player in the Indian smartphone market, which is expected to grow by 15.6 percent to reach 337 million people in 2018.
Research by eMarketer shows that India’s growth estimates are the highest for any country, with the report suggesting that more than a quarter of India’s population will be using smartphones by year end.
“The market in India will continue to rapidly expand as an increased number of feature-rich, affordable smartphones are introduced to the market,” Bill Stone, CEO of Digital Turbine, said in Monday’s release. “We are excited to partner with Intex to improve app delivery and discovery for end customers.”
Intex will be banking on Digital Turbine’s app discovery platform to increase the user experience and to boost sales of its smartphone. A report from CMR shows that the company lost 11.6 percent of its market share in the second quarter of 2018.
“The frequency of mobile usage in India is growing rapidly with the increasing sales of mobile handsets. As a result customers are spending more time than ever on their devices; downloading more apps, listening to music, playing games and shopping at higher rates than ever,” Nitin Goel, head of digital services at Intex Technologies, said in the joint press release.
Following the announcement, Digital Turbine was down 1.3 percent, with its share price closing the trading session on Monday at US$1.42. The company has a “strong buy” ranking on TipRanks with an analyst target price of US$2.90. It has a high estimate of US$3.50 and a low estimate of US$2.20.
On TradingView, the company has a “strong sell” ranking with 16 verticals against, nine in neutral and one in favor.
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Securities Disclosure: I, Bala Yogesh hold no direct investment interest in any company mentioned in this article.