Smartphones shipments in India plunged by over 27 p.c to 29.6 million within the October-December quarter of 2022, from 40.6 million within the year-ago interval, primarily attributable to inflationary pressures, market analysis agency IDC stated on Friday.
According to the report, dwindling shopper demand attributable to excessive inflation remained a problem all year long regardless of the improved provide state of affairs.
Smartphone shipments within the sub-$ 300 (about Rs. 25,000) worth section declined by 15 p.c whereas mid-premium and premium worth segments of $ 300-500 and over USD 500 (Rs. 41,000) grew by 20 and 55 p.c, respectively throughout 2022.
The entry-level smartphones, under Rs. 12,500 apiece, shrunk to 46 p.c from 54 p.c a 12 months in the past.
IDC India, Research Manager, Client Devices, Upasana Joshi stated dearth of latest launches in sub-$ 150 (about Rs. 12,000) smartphone section restricted its progress.
According to IDC Associate Vice President, Devices Research, Navkendar Singh rising costs and extra inventories are anticipated to be a priority no less than in the course of the first half of the present 12 months.
“We should expect a rather difficult and elongated recovery for the smartphone market, as worries around rising prices and excess inventories will remain a concern at least in the first half of 2023.
“Vendors and channel companions have to rethink their plans for his or her entry-level portfolios, driving 5G gadget affordability with enticing trade-in packages and financing schemes,” Singh said.
Xiaomi led the market during the quarter as well as on an annual basis with 18.6 and 21 percent market share despite huge dip in its shipment volume on a year-over-year (YoY) basis.
Xiaomi shipments declined by 38.3 percent during the December 2022 quarter and 25 percent on an annual basis in 2022.
Apple maintained its lead in the premium segment with a 60 percent share followed by Samsung with a 21 percent share.
Samsung smartphones shipment declined by 22.6 percent in the December 2022 quarter and 6.6 percent during the year.
Samsung was second largest player during the quarter as well during the year with 18.4 percent and 18.1 percent share respectively in terms of smartphone shipments.
Overall, 201 million mobile phones were shipped in 2022, clocking a 12 percent annual decline.
“Feature telephone shipments stood at 57 million, a drop of 18 p.c YoY. Samsung, Xiaomi and Transsion have been the main corporations within the whole cell phone market,” the report said.
