Counterpoint Research said India’s smartphone shipments grew 23 percnet year on year to more than 38 million units in Q1 2021, the highest ever first quarter shipments. New product launches, promotions and financial schemes, as well as pent-up demand coming from 2020, drove the market in Q1 2021.

New product launches, promotions and financial schemes as well as pent-up demand coming from 2020 drove the smartphone market in the March quarter - which is the highest ever for the first quarter. "Continuing with its stellar run, India's smartphone market registered a third consecutive quarter of record shipments in Q1 2021, riding on pent-up demand.

Consumer confidence increased due to the beginning of a vaccination drive" Counterpoint Senior Research Analyst Prachir Singh said. However, these numbers should be taken with caution as a second and more virulent wave of COVID-19 is currently on in the country and is likely to impact the coming quarters, Singh said.

 The consumer demand will take a hit due to the ongoing COVID-19 wave and subsequent lockdowns, he added. The overall mobile handset market (smartphone and feature phones) grew 19 percent year-on-year in the March 2021 quarter due to the strong performance of both feature phone and smartphone segments.

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