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India’s smartphone market exited 2022 with 144 million shipments - the lowest since 2019, with a 10 per cent decline YoY (year-over-year), according to the International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker,
The Q4 FY’22 period saw 27 per cent YoY decline as shipments fell to 30 million units. Despite multiple price discounts and channel schemes, high inventory levels after Diwali restricted new shipments.
Dwindling consumer demand due to high inflation remained a challenge throughout the year despite the improved supply situation. The ASP (average selling price) hit a record $224, rising 18 per cent YoY in 2022.
“The entry-level segment (sub-$150) shrank to 46 per cent, down from 54 per cent a year ago. The dearth of new launches in this critical mass segment was a barrier for new smartphone users, thus limiting the overall market’s growth,” said Upasana Joshi, Research Manager, Client Devices, IDC India.
Shipments to online channels dropped by 6 per cent YoY, though with a record-high share of 53 per cent. The offline channel declined by 15 per cent YoY. 50 million 5G smartphones were shipped during the year with an ASP of $395 in 2022, down from $431 in 2021.
5G to drive sales?
With more affordable 5G launches expected in 2023, 5G devices should account for around 60 per cent of shipments in 2023, the report said. The share of MediaTek and Qualcomm-based smartphones dropped while UNISOC’s share doubled to 14 per cent, with significant volumes coming from realme and Samsung in the entry-level 4G segment, it further noted.
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