Foldable phone shipments in India to increase by 20-30% in 2023
- IBEF
- December 30, 2022
According to a report by Counterpoint, a market research firm, domestic foldable phone shipments in India are expected to increase at a rate of 20-30% in 2023, post a growth of more than 50% in 2022, both globally and in India. The shipments in FY2023 are likely to close at a 52% annual growth with 22.7 million foldable phones shipped globally.
The Senior Research Analyst, Counterpoint stated that the ‘premium’ smartphone market of India for handsets above US$ 362 (Rs. 30,000) accounted for around 10-11% of the overall market in the September quarter. During this period, 45 million smartphones were shipped to India.
It was noted that Samsung will continue to be the leader of the foldable phones market next year, whereas other brands like Honor, Motorola, Xiaomi, etc. are expected to contribute to increased competition and falling prices. Further, the premium market witnessed an increase in shipments driven by the festival season deals for brands like Apple, Samsung, and OnePlus. The premium market reached its peak in India’s market share with 12% in the September quarter.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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