One billion smartphones by 2014. Bottom-of-the-pyramid market never looked better
Tuesday, June 26, 2012
It’s been a while since bottom of the pyramid — famously enunciated by the late management guru C.K. Prahlad — has been perceived to be an attractive market.
In fact, the bottom of the pyramid has, probably, never looked better than in the market for mobile phones. It’s no surprise then that a startup should set its eyes on the next wave of the cellphone revolution — the expected, even inevitable, explosive growth of smartphones in the developing world.
Paloma Mobile Pty Ltd, founded less than a year ago to deliver rich apps and services optimised for low-cost smartphones in poorer global markets, won a ringing endorsement of its pursuit with a $1.5 million Series A funding led by OneVentures. Venture capital veteran Roger Allen is among the investors.