Even though China and America are the largest markets in the world in terms of value, now India has gained momentum in this market. Due to increasing demand for premium smartphones led by Apple and Samsung, the size of the Indian smartphone market is expected to exceed $ 50 billion (approximately Rs 4,28,900 crore) by the year 2025. After which India will come closer to China and America in this matter. Let us also tell you what kind of reports have come out regarding India's smartphone market.
According to the report of market research firm Counterpoint Technology, consumers in India are now turning to premium smartphones, due to which the share of this segment in the total market is continuously increasing. According to the report, India's smartphone market is on its way to reach its highest level by crossing $50 billion in the year 2025. Brands like Apple and Samsung are leading this change by introducing competitive products in the premium and ultra-premium segments. Due to increasing trend towards premium phones, the average retail selling price of the Indian smartphone market is expected to cross $ 300 (approximately Rs 25,700) for the first time this year.
In the year 2021, the size of the Indian smartphone market was $ 37.9 billion (about Rs 3.25 lakh crore). In the financial year 2023-24, Apple had earned a total revenue of Rs 67,121.6 crore from the mobile phone business in India, while Samsung earned Rs 71,157.6 crore. According to the report, Apple is expected to see strong demand for its 'Pro-series' due to local manufacturing and recent price cuts of its iPhone products. Meanwhile, Samsung's price-centric strategy is gaining momentum, especially with the 'S-series'.
Chinese brands like Vivo, Oppo and OnePlus are attracting consumers by offering features like advanced camera systems in affordable premium ranges. OnePlus seems to be making a comeback by removing the recent concerns regarding display and motherboard. The report says that the premium segment (priced above Rs 30,000) is expected to have more than 20 percent share in the smartphone market by 2025.
