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IPhone Outpaced in Surging India by Less Costly Rivals

Apple Inc. and Samsung Electronics Co. are being beaten in the fast-growing Indian smartphone market by a couple of aggressive local competitors.

Sales growth at Bangalore-based Karbonn Mobiles India Pvt. and Micromax Informatics Ltd. is being fueled by Indians buying their first smartphone to surf the Internet, which will be accessed by more than 300 million people by 2017. Their secret: the price.