India’s smartphone market fell 10% year-on-year to 43.5 million items final quarter, marking the bottom third-quarter shipments since 2019, and a fourth quarter muted by a excessive stock pile-up, the market Research agency IDC expects. mentioned on Monday.
IDC mentioned that regardless of the festive season beginning sooner than common, the continued rise in costs has dragged down shipments on the planet’s second-largest smartphone market.
IDC mentioned the common promoting worth jumped 15% year-over-year and 6% from the earlier quarter to a document $226.
“Average selling price has steadily increased over the past eight quarters due to rising costs and increasing 5G shipments at mid-premium price points,” mentioned Upasana Joshi, analysis supervisor, shopper gadgets, IDC.
Besides, stock pile-up in demand and post-festival crunch will result in a slowdown in This autumn, mentioned Navkendar Singh, Associate Vice President, Devices Research, IDC.
IDC expects 2022 shipments to be round 150 million items, an 8-9% decline from final 12 months, and Singh would not anticipate 2023 to be a lot better.
“The key challenges coming into 2023 are the impact of inflation on consumer demand, rising device costs and slow feature phone-to-smartphone migration.”
With inputs from TheIndianEXPRESS
