The Indian smartphone market exited 2022 with a 10 per cent year-on-year decline in smartphone shipments, at 144 million units–the lowest since 2019. Further, shipments in the fourth quarter (Q4) of CY2022 dipped 27 per cent YoY to 30 million units, according to the International Data Corporation’s Quarterly Mobile Phone Tracker report.
Despite multiple price discounts and channel schemes, high inventory levels post Diwali restricted new shipments.
“The entry-level segment (sub-$150) shrank to 46 per cent of the market, from 54 per cent a year ago. The dearth of new launches in this critical mass segment was a barrier for new smartphone users, limiting the overall market’s growth,” said Upasana Joshi, Research Manager, Client Devices, IDC India.