The latest India Handset Quarterly Outlook by Counterpoint Research shows some impressive numbers for the market. The results point to an overall strong outlook for the Indian market, with 5G, feature phones conversion to smartphones, and affordability driving the massive growth.
The Indian smartphone market is in a resurgent mood after a slight dip in 2020, occasioned by the coronavirus pandemic. In the first half of the year, overall smartphone shipments rose to a record 100 million units, while the market share of 5G smartphones grew from 3% in 2020 to 19% by mid-2021. This tremendous growth has led Counterpoint Research to forecast that the market will get to the 173 million units mark by the year’s end.
India with a population of 1.39 billion, is a huge trove of untapped potentials. The 320 million feature phone market in the subcontinent is also up for grabs, as the $75 Jio Phone Next could be a game-changer to drive the migration from feature phone to smartphone by users. As India continues to expand its 5G infrastructure, the demand for affordable 5G smartphones has also been on the increase. Average prices of 5G phones have seen a 40% decline, and the current price of the cheapest 5G smartphone is INR 15,000 ($200). A recent survey also indicated that about 21% of consumers preferred 5G.
The Indian smartphone market has enjoyed a steady growth in the last five years, and the outlook for the next five years remains very bright. After China, the Indian smartphone market is the largest in the world.
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