Recently, Indian telecom giant Reliance Jio announced that its upcoming smartphone, named JioPhone Next, will be officially launched by the Diwali festival in the country, which means that it will be available by 4th November.
The entry-level smartphone made in collaboration with Google was earlier set to get launched in the Indian market last week but the phone’s release has been delayed and the company has claimed global chip shortage as the reason.
Now, a report from Counterpoint Research claims that the JioPhone Next isn’t the only device being affected by the severe shortage of components and shipping delays. It says that many top smartphone makers are delaying or limited the launch of their products to certain markets due to production issues.
The delays in smartphone launches are linked to shortages in components like power management integrated circuits. The rising cost for key components such as memory, processors, and logistics is also a key factor.
At the same time, companies are also increasing the pricing of smartphones. The prime example of this would be Xiaomi-backed Redmi which increased the price of the Redmi Note 10 series four times in the Indian market.
According to Counterpoint Research, the year is expected to end with about 190 launches, which is less than over 207 launches last year. So far, companies have conducted around 103 smartphone launches this year.
It remains to be seen how many devices get launched in the fourth quarter of this year which is the prime sale period for both online and offline sales because of the festive season and it accounts for around one-third of annual sales.
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