Indian smartphone market down 27% in This autumn 2022, entry-level phase hit arduous: IDC report
Edited: Shaurya Sharma
Final replace: February 11, 2023 at 12:23 pm IST
Within the $500+ premium market phase, Apple holds the lead with a 60% market share.
Indians are shopping for fewer smartphones, in keeping with IDC, as smartphone shipments in India fell sharply by 27% within the fourth quarter of 2022, reaching 29.6 million models in comparison with 40.6 million in the identical interval final 12 months.
With smartphones turning into extra related in look, reaching the proverbial “saturation level” when it comes to efficiency, and growing the typical promoting worth (ASP), demand for them in India has declined.
In response to IDC, smartphone shipments in India fell sharply by 27% within the fourth quarter of 2022, reaching 29.6 million models in comparison with 40.6 million models in the identical interval of the earlier 12 months, with the autumn attributed to rising inflationary pressures.
In response to IDC, the smartphone provide market has run into hassle regardless of varied promotions and offers. Excessive stock ranges after the Diwali pageant have restricted new provides. Within the sub-$300 (roughly Rs. 25,000) worth vary, provides had been down 15%.
Nevertheless, the mid-range and premium segments within the $300-$500 vary and above $500 (Rs. 41,000) respectively grew by 20% and 55% throughout 2022.
As well as, the entry-level smartphone market, which incorporates telephones underneath Rs 12,500, has shrunk from 54% to 46% in comparison with the earlier 12 months.
Within the $500+ premium market phase, Apple holds the lead with a 60% market share. The iPhone 13 was the third most offered gadget in 2022, with Samsung holding a 21% market share.
Xiaomi shipped a complete of 30.3 million smartphones with a market share of 21% – down 4.1% from 2021 however stays the market chief in India.
Total, with a 12% decline within the Indian market, annual smartphone shipments had been 201 million.
“Common telephone shipments totaled 57 million models, down 18% from the earlier 12 months. Samsung, Xiaomi and Transsion had been the main firms within the cell phone market,” IDC stated in a report.
“We should always anticipate a moderately troublesome and prolonged restoration within the smartphone market as issues about rising costs and extra stock will stay an issue via not less than the primary half of 2023. portfolio, growing the supply of 5G units with engaging trade packages and funding schemes,” stated Navkendar Singh, Affiliate Vice President, Gadget Analysis, IDC.
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