According to CyberMedia Research (CMR)’s India Mobile Handset Market Review Report, the 5G smartphone market will expand by more than 70 per cent year-on-year (YoY) by the end of 2023. The Indian smartphone market recorded more than 13 times growth in its 5G shipments from the year of its initial introduction in 2020. Samsung, OnePlus and Vivo led the Indian market in 5G smartphone shipments in 2022. In the 5G value for money (Rs 10,000-25,000) price segment, Xiaomi and realme were the major contributors.
As per the report, there was limited consumer demand in 2022 due to prevailing macroeconomic conditions and relatively limited access to 5G networks. However, with the rapid introduction of 5G networks across Indian cities, there has been a growing consumer interest and awareness around 5G smartphones.
Commenting on the report, Menka Kumari, analyst, Industry Intelligence Group (IIG), CMR, said, “From a mere 4 per cent in 2020 to a potential over 45 per cent market share in 2023, 5G smartphones have definitely come a long way. In 2022, close to 100 5G smartphones were launched in the India market. In 2023, we anticipate close to 75 per cent of the new smartphones to be introduced in the India market to be 5G-capable.”
Meanwhile, Shipra Sinha, analyst, IIG, CMR, said, “As consumers seek to switch and upgrade their phones, inclination towards 5G smartphones is bound to rise. Going forward, we anticipate further momentum for 5G smartphone shipments in the new year driven by strong consumer demand and aggressive 5G network deployment by Indian telcos. In 2023, we anticipate 5G smartphone shipments to increase significantly in the value for money smartphone (Rs 10,000-25,000) segment. All said, the key for mass 5G adoption in India will depend, amongst others, on the introduction of 5G smartphones in the affordable smartphone segment (less than Rs 10,000). Alongside, better 5G availability and accessibility will be key for consumer experience.”