Overview:
India’s smartphone market grew 60% YoY in May 2022. The high growth is due to a lower base in May 2021 when the COVID-19 wave had impacted the market. Although there is a YoY growth, smartphone shipments declined 9% MoM due to a decline in consumer demand. We are observing that the consumers are holding off on new purchases and are preferring repair over buying a new device.
A similar trend can also be seen in the feature phone market where shipments grew 23% YoY but grew only 2% MoM in May 2022. The bottom-of-the-pyramid users have been the most impacted by the high inflation and thus, we are seeing a high decline/low growth in feature phone and entry-level smartphone segments.
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Author
Prachir Singh
Prachir is a Senior Research Analyst at Counterpoint Research based out of Gurgaon. In Counterpoint, he closely tracks mobile devices and ecosystem. He also tracks Emerging Tech Opportunities. He has a total of 10+ years of experience across various sectors like manufacturing, management consulting, strategy and operations. He is an engineering graduate from Indian Institute of Technology (IIT), Kharagpur.
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