The latest data from research firm Counterpoint has shown that Indian-made smartphone shipments grew by 16% in Q2 2022 from the corresponding performance in 2021. The growth in Made in India smartphone shipments is being driven partly by a strong incentive framework put in place by the central government. The Counterpoint data showed that Indian-made smartphone shipments for April-June 2022 were over 44 million units. The Q2 figure exceeded both the Q1 performance and the corresponding Q2 figures from 2021.
The report shows that Indian OEMs pushed for better Q2 performance in order to qualify for PLI incentives. Global smartphone chip shipments declined by 5% YoY in Q1 2022 but the Indian government continues to stimulate semiconductor production. The new report indicates a positive push across several segments of the tech ecosystem by local enterprises. The government’s various PLI interventions may have also resulted in the increase in the local manufacture of tablets, smartwatches, earbuds, and other products.
Foreign brands with a strong manufacturing presence in India are also reaping from the favorable environment. OPPO led smartphone shipments with 24%, followed by Samsung, while Lava accounted for 21%. In terms of brand performance, Padget Electronics (396% YoY), Wistron (137% YoY), and Lava (100% YoY) were the three best-performing local brands in Q2 2022. Optiemus, Bharat FIH, and Padget TWS segment while WDN and Mivi are frontrunners in the neckband segment. Wingtech, Samsung, and Dixon have a cumulative market share of 90% in the tablet segment. Four firms – Dixon, Radiant, Samsung, and LG account for half of the Made in India shipments.
In terms of production, TWS earphones dominated the domestic wearable ecosystem with 16%, followed by neckbands and smartwatches. The active interventions by the Indian government were highlighted as a major driving factor for the surge. India continues to attract manufacturers and investors as it gradually firms up its place in the global tech market.
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