India emerges as fastest growing 'premium' smartphone market in 2023

The overall global smartphone market is expected to see a decline this year, but the premium market’s sales are estimated to grow 6% YoY in 2023, which is a new record, according to the latest report by global TMT (technology, media and telecom) research firm Counterpoint Research. This trend also signals a shift in consumer buying patterns in the smartphone market. "Considering the importance a smartphone holds, consumers are willing to spend more to get a high-quality device that they can use for a longer period. Owning the latest and greatest flagships has also become a status symbol for many consumers, especially in emerging markets," says Varun Mishra, senior analyst, Counterpoint Research...Read more