Nobody ever knew that the device that was termed as a luxury gadget for business class will develop a strong hold over Indian mobile phones market within a decade’s time. Yes, cell phones have become a dominant means of communication in the country because of the flexibility and convenience they offer. You can now connect with your family members, colleagues or even clients instantly. Initially tagged as a lifestyle product, the mobile phones has now become a necessity. As far as Indian market is concerned, you will find ample range of latest mobile phones to meet your feature specifics and individual requirements. Youths are the most targeted and potential buyers in this vast industry. Mobile companies know that the gadget is more of a style statement t o them, therefore launch sleek, touch screen mobiles in trendy designs and colours. Introduced merely as a voice transmitting device, the mobile phone has now transformed into communication device comprising of MP3 player, high pixel camera, Bluetooth, 3D gaming, GPRS and many other high-tech features. The rapidly increasing space for mobiles in the mobile market of India has made the competition tougher for the cell phones companies. If we study the market share, Nokia is still ahead of other companies like Sony Ericsson, LG or Motorola. The brands like HTC and Apple have targeted a niche market segment only. Because the mobile phones users are increasing at an impressive rate, the competition between mobile phones stores has also become tough. Cheap mobile phones call rates and excellent CDMA services are also twisting the market a bit. Whatever the reason be, there is a cut throat competition and the numbers of competitors is increasing rapidly. The growth rate of 8.12% in the mobile phones sector between the year 2000-2007 boasts of the impressive hold of cell phones. It is expected that more than 6 hundred million people will have mobile phones in India by 2010. If we see the global trends, there is still a lot of scope for development and innovations in the Indian mobile phones market. The network coverage is becoming better and innovation is still being done, which is paving way for more advanced, latest, appealing, improved and of course cheap mobile phones in the coming years.