As per industry reports, the Indian smartphone industry is expected to witness an increase in shipments to 190-200 million in 2022 with more 5G devices vying for consumers’ attention despite component supply crunch.
According to Counterpoint Research, the Indian smartphone market has been experiencing a steady growth curve over the last five years, growing continuously to reach 158 million units in 2019. The impact of pandemic saw the market experiencing a minor dip showcasing its resilience. The market is now expected to experience accelerated growth realising the true potential of the Indian market in the coming years with shipments crossing the 200 million mark in 2022.
Meanwhile, 5G smartphones are in demand in India and the shipments are believed to be 10-15 per cent higher during the third quarter (Q3) in 2021. Further, Counterpoint Research predicts that the semiconductor shortage will continue to affect the Indian smartphone market in 2022. However, the situation might improve in the second half of 2022.
As per Counterpoint Research, the retail average selling price (ASP) is estimated to increase 13 per cent year-on-year (Y-o-Y) in 2021 as smartphone volumes are transitioning towards higher price segments.
