India's Smartphone Sector Set to Surpass $50 Billion This Year: Report
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New Delhi, Jan 3 (NationPress) India’s smartphone sector is expected to surpass $50 billion in value by 2025, driven by the ongoing shift towards premium devices and a strong focus on local manufacturing, according to a report published on Friday.
The average retail selling price (ASP) for smartphones in India is projected to exceed $300 for the first time this year, based on the latest findings from Counterpoint’s ‘India Smartphone Outlook’.
Leading this evolution are Apple and Samsung, who are providing competitive offerings in the premium and ultra-premium markets.
Apple is anticipated to witness significant demand for its Pro models, bolstered by local manufacturing efforts and recent price reductions across its iPhone range.
On the other hand, Samsung’s value-centric approach is gaining momentum, especially with its flagship S series. Additionally, OnePlus is aiming to enhance its presence in the ultra-premium segment (above Rs 45,000) with the launch of its flagship OnePlus 13, as noted in the report.
This trend towards premiumisation is further propelled by consumers favoring offline retail experiences, where they can interact with premium smartphones before committing to a purchase.
The report highlights that the increasing interest in AI-powered features has further encouraged consumers to seek hands-on demonstrations to better comprehend these advancements and make informed choices.
“The Indian smartphone landscape is rapidly evolving, with original equipment manufacturers (OEMs) increasingly prioritizing premium launches to enhance brand equity, showcase technological prowess, and boost profitability,” the report commented.
Within the affordable premium range (Rs 30,000-Rs 45,000), brands like Vivo, OPPO, and OnePlus are captivating consumers with advanced camera technologies and sophisticated design aesthetics.
OnePlus’s planned investment of Rs 6,000 crore for phased local market expansion is expected to expedite its recovery and growth trajectory.
According to the report, the premium segment (Rs 30,000 and above) in India is projected to capture over 20 percent of the market share by 2025.
