New Delhi, Hong Kong, Seoul, London, Beijing, San Diego, Buenos Aires – January 31, 2022
India’s smartphone shipments grew 11% YoY to reach 169 million units in 2021, according to the latest research from Counterpoint’s Market Monitor service. However, the shipments declined 8% YoY in the December quarter due to supply issues plaguing the smartphone manufacturing ecosystem.
Commenting on the market dynamics, Senior Research Analyst Prachir Singh said, “The Indian smartphone market witnessed high consumer demand in 2021, making it the best-performing year. This feat came in a year that witnessed supply constraints due to a multitude of reasons – a second and more virulent COVID-19 wave, global component shortages and price hikes due to these shortages. The high replacement demand fuelled by increasing smartphone affordability in the mid and high-price tiers due to promotions and discounts, as well as better financing options, led to an 11% YoY growth in 2021. The demand outstripped the supply in the last two quarters of 2021. During Q4 2021, the smartphone market declined 8% YoY. We expect the supply situation to get better going forward and reach normalcy by the end of Q1 2022.”
Commenting on the competitive landscape and pricing, Research Analyst Shilpi Jain said, “India’s smartphone market retail ASP (average selling price) grew 14% YoY in 2021 to reach its highest ever at $227. The price hikes in the budget segment due to component price rise, increasing focus of OEMs on the premium segment, and increased demand for mid-range and premium smartphones due to increasing uses and availability of financing options contributed to the increasing ASP. This resulted in the Indian smartphone market revenue crossing $38 billion in 2021, registering a growth of 27% YoY.”
On the developing manufacturing ecosystem, she added, “Local manufacturing bounced back, contributing 98% shipments in 2021, compared to 90% in 2020. The PLI scheme has been a great booster for the Indian mobile manufacturing ecosystem, attracting top players like Apple and Samsung to increase their ‘Make in India’ footprint and make India their export hub. Therefore, handset exports saw 26% YoY growth in 2021. Seeing the PLI scheme's success in the mobile manufacturing ecosystem, the government has launched similar schemes for different product verticals like CIOT and IT hardware.”
Source: Counterpoint Research Market Monitor, Q4 2021
Note: Xiaomi’s share includes the POCO brand
Source: Counterpoint Research Market Monitor, Q4 2021
Note: Xiaomi’s share includes the POCO brand
India’s overall mobile handset market grew 7% YoY in 2021. Samsung captured the top position in the handset market in 2021, taking 17% share. Feature phone shipments reached 86 million units to show flat growth in 2021. itel led the feature phone market, taking 24% share followed by Lava, Samsung and Jio. itel has been leading the feature phone market for the last two consecutive years.
Source: Counterpoint Research Market Monitor, Q4 2021
Note: Xiaomi’s share includes the POCO brand
Source: Counterpoint Research Market Monitor, Q4 2021
Note: Xiaomi’s share includes the POCO brand
Market Summary:
Note: OPPO excludes OnePlus shipments in this publication as the integration is still in process at the regional level. We have already integrated OPPO and OnePlus shipments at the global level.
The comprehensive and in-depth 2021 Market Monitor is available for subscribing clients. Feel free to contact us at [email protected] for questions regarding our latest research and insights.
The Market Monitor research relies on sell-in (shipments) estimates based on vendors’ IR results and vendor polling, triangulated with sell-through (sales), supply chain checks and secondary research.
You can also visit our Data Section (updated quarterly) to view the smartphone market share for World, USA, China and India.
Background:
Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.
Analyst Contacts:
Prachir Singh
Shilpi Jain
Tarun Pathak
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