Indian Smartphone market to stay resilient and bounce back in the third quarter

After facing an 11 percent falls in the second quarter, the Indian smartphone market is expected to stay resilient and bounce back in the third quarter and beyond, a new report showed on Monday.

Shipra Sinha, Analyst-Industry Intelligence Group, CMR said "Regional lockdowns, during April and May, in response to the second pandemic wave contributed to the decline. However, shipments bounced back in June. Xiaomi replaced Samsung at the top in terms of overall shipments for the second time in the last three years."

While the overall handset market dropped by 31 percent (on-quarter), there was a significant (on-year) growth with shipments up by 72 percent in the April-June quarter.  5G smartphone shipments recorded significant growth, primarily in the value for money smartphone segment (Rs 7,000-Rs 25,000)," she added. For the entire year, CMR estimates point to a potential 5-8 percent (YoY) growth in smartphone shipments.

"The fragile supply chain and a potential third Covid wave are variables at play that may hurt the market recovery." According to the CMR report, total smartphone shipments in India grew 85 percent (YoY) in the June quarter. Driven by the strong consumer demand, 4G smartphones accounted for 87 percent market share. However, on a QoQ basis, the smartphone market dropped down by 11 percent.

Country's foreign exchange reserves hit record levels

Govt implementing scheme to promote tea sector: Anupriya Patel

Will withdraw its Prompt Corrective Action only if bank is 'fit case': RBI Governor

 

- Sponsored Advert -

Most Popular

- Sponsored Advert -