According to a report by Counterpoint Research, ‘Made-in-India’ smartphone shipments grew 16 per cent year-on-year (Y-o-Y) to over 44 million in second quarter (Q2) of calendar year (CY) 2022. The development, as per report, comes in the backdrop of higher production to meet the criteria for production linked incentive (PLI) scheme.
The report further notes that Oppo led the ‘Made-in-India’ shipments with a 24 per cent share, followed by Samsung (21.8 per cent) and Vivo (14 per cent). Meanwhile, in the third-party electronics manufacturing services (EMS) players, Bharat FIH and Dixon led the chart with 9.8 per cent and 8.1 per cent share, respectively.
Besides, as per report, Padget Electronics (396 per cent Y-o-Y), Wistron (137 per cent Y-o-Y), and Lava (110 per cent Y-o-Y) were the fastest growing smartphone manufacturers during the quarter in terms of shipments. In addition, the report also asserted that during the quarter under consideration, investments increased in the Indian manufacturing ecosystem with new plants being set up as well as existing ones are being expanded.
The report also believes that the disbursement of PLI incentives in Q3 2022 is poised to further boost the local manufacturing sentiments. Going forward, with the government’s additional focus on building an overall ecosystem for semiconductors in the country, India will witness a rapidly expanding electronics manufacturing and innovation ecosystem, the report deduces.
