India’s smartphone shipments fell to 151.6 million units in 2022, declining by 6 per cent compared with 2021, according to market research firm Canalys. The major drop in shipments was recorded in the fourth-quarter (CYQ4, 2022), falling by 27 per cent to 32.4 million units. “India was better positioned to weather the global downturn than other markets. But domestic consumer spending cooled in the last few months of 2022,” said Sanyam Chaurasia, Analyst at Canalys. “Even during the festive season, the domestic market suffered a fall in transactions, retail spending and electronic imports. In 2022, consumers already had up-to-date technology that they had bought during the pandemic, thereby delaying further purchases. This led to smartphone brands struggling with inventory management because demand was subdued. Vendor channel management strategies became more important than ever. The mid-to-high-end segment performed well this year, which will further catalyze
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