Overview:
India’s smartphone shipments are expected to decline by 2% YoY to reach 148.8 million units in 2023. The market’s performance in Q3 was at par with our expectations and the market ended up growing by 27% QoQ and remaining flat in YoY terms.
As per our latest forecast, the declining trend in India Smartphone market started reversing from Q3 and will exhibit growth in next quarter driven by elongated festive season and 5g upgrades. We believe that the worse is now over and the market is on the way to recovery, also indicated by better-than-expected shipments in the market for last 3 months. Although majority of online festive sell in was accounted in Q3 itself, offline sell in will drive growth in Q4 2023. We believe India smartphone market will be on growth trajectory next year and will experience 5% YoY growth. Consumer sentiments are improving, and we expect Government to infuse money in economy due to elections next year.
In this report you will find India smartphone shipments forecast by:
- Brand wise volumes till 2025
- Brand wise value till 2025
- By Tech (4G and 5G split)
- By Price-Band
- By Channel (Online & Offline)
Publication Date: December 2023