17.1 C
Delhi

India Smartphone Shipments Decline 9% YoY in 2022 for the First Time

The smartphone market in India has seen a decline in shipments for the first time in 2022, with a 9% year-over-year drop. Despite this overall decline, the premium segment of the market has seen a significant increase in its share for the first time, reaching double digits.

One of the main reasons for the decline in overall shipments is the ongoing economic slowdown in India. The country has been facing a number of economic challenges in recent years, including high unemployment rates and a decrease in consumer spending. As a result, many consumers have been opting for cheaper, budget-friendly smartphones rather than more expensive, high-end models.

Smartphone
Credit: Counterpoint Research Market Monitor, Q4 2022

However, the premium segment of the market has been able to buck this trend. The increasing affordability of premium smartphones and the growing awareness of the features and benefits they offer has led to an increase in their popularity among Indian consumers. Additionally, many consumers are willing to invest in a high-end device with the latest features, as they see it as a long-term investment.

Smartphone
Credit: Counterpoint Research Market Monitor, Q4 2022

The increased share of the premium segment in the Indian smartphone market has also been driven by the success of Chinese manufacturers in the country. Brands such as OnePlus and Vivo have been able to establish themselves as strong players in the premium segment, offering high-end devices at competitive prices.

- Advertisement -TechnoSports-Ad
Smartphone
Credit: Counterpoint Research Market Monitor, Q4 2022

Overall, the Indian smartphone market is facing some challenges, but the premium segment is showing strong growth. As the economy continues to recover and consumers become more confident in their purchasing power, it is likely that we will see a rebound in overall smartphone shipments in the coming years.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TechnoSports-Ad

Popular

TechnoSports-Ad

Related Stories

More from author

BSNL is offering free 4G SIM upgrade to its 2G/3G customers with Complimentary 4GB Data

BSNL has announced that customers of BSNL 2G and 3G can upgrade to a 4G SIM card for free. BSNL is offering free 4G...

Jio launches new Swiggy One Lite recharge plan starting from Rs 866: All details you need to know

The reliance Recently, Jio introduced a "food delivery subscription" function along with its prepaid plan. TelecomTalk reports that Jio has introduced prepaid plans with...

New JioSaavn Pro Recharge Plans 2024 with Enhanced Benefits is here as of 19th March

Jio has unveiled five new JioSaavn Pro recharge plans, offering users a bundled subscription to JioSaavn Pro and generous data allowances. With options ranging...

Galaxy Tab S9 FE vs OnePlus Pad: Detailed Comparison

Galaxy Tab S9 FE vs OnePlus Pad: Which one is better in 2024? Both of these tablets are best in their respective categories, but as...