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While China gets the most ink when it comes to critical new markets, recent data from IDC demonstrates that India should not be overlooked. For the quarter ended June 30, year-over-year smartphone shipments nearly tripled to 9.3 million units. While the data shows that Nokia (NYSE:NOK) only commands a 5.4% market share, just above the 5.1% commanded by Sony (NYSE:SNE), it hopes to grab market share with the introduction of the Lumia 1020, its most advanced Microsoft (NASDAQ:MSFT) Windows Phone to be introduced to India. Currently, Samsung (OTC:SSNLF) commands 26% of the market, led by its Google (NASDAQ:GOOG) Android- powered Galaxy line.

NOK Chart
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NOK data by YCharts

In the video below, I discuss why the reception the new device receives will be a good indicator for Microsoft, which is in the process of purchasing Nokia's handset division. Microsoft continues to be an attractive stock in the sector, with a dividend yield of 3.3% and a P/E of 13.4.

Source: Nokia Aims At Samsung In India