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Saturday, February 04 2023

India’s smartphone market to exit 2021 with a low single-digit annual growth

Indias smartphone market to exit 2021 with a low singledigit annual growth
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New Delhi: India’s smartphone market registered a year-over-year (YoY) decline of 12 per cent in 3Q21 (Jul-Sep), shipping 48 million units after four consecutive quarters of growth, a new report revealed on Friday.

According to the International Data Corporation’s (IDC), compared to 3Q19, 3Q21 grew by 3 per cent as channels stocked up for the Diwali quarter amid the supply shortages.A

“The first nine months of the year (Jan-Sep’21) already shipped 120 million units, with 1H21 clocking 42 per cent YoY growth. Due to supply challenges, 4Q21 is expected to see a decline, resulting in annual shipments below 160 million in 2021. The first half of 2022 will remain challenging, with some easing out expected in the latter half of 2022,” Navkendar Singh, Research Director, Client Devices and IPDS, IDC India said in a statement.

Xiaomi continued to lead but shipments declined by 17 per cent YoY. Samsung, at the second slot, registered the highest YoY decline amongst the top 5 vendors at -33 per cent in 3Q21. vivo was at the third position, with a shipment decline of 13 per cent YoY.

Online channels clocked a record high 52 per cent share, although with a 5 per cent YoY shipment volume decline. Tailer sales festivals (The Big Billion Days on Flipkart and Amazon Great India festival) started in early October, even before the Navratri festival this year, continuing until Diwali.

Offline channels registered an 18 per cent YoY shipment decline. IDC expects online shipments to surpass offline shipments in 2021.

India was the third-largest 5G smartphone market globally with 7 per cent of worldwide 5G shipments, shipping 10 million units at an ASP of $401 in 3Q21. From Jan-Sep’21, 17 million 5G smartphones were shipped to India and is expected to be under 30 million for 2021. The OnePlus Nord CE, iPhone 12, and Galaxy A22 were the most popular 5G models in 3Q21.

Overall ASPs peaked at $196, driven by price hikes and a greater 5G contribution. The sub-$200 segment dropped by 24 per cent, while $200+ smartphones grew by 56 per cent, signaling a shift to higher price buckets, driven primarily by supply.

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