Indian Smartphones Demand Increasing At Shocking Rate
Though 2020, in general, has been a bad one, but not for the smartphone industry, the Indian smartphones market has experience increase in demand of the product. According to a report by Counterpoint, the sector has undergone a 9 per cent increase growth to over 53 million units in shipments between July to September. This is the highest-ever shipment in a quarter for Indian smartphones.
The primary reason behind these increase shipments is found to be a rise in demands of smartphone during lockdown as well as strong sales on online platforms. Due to the COVID-19, many consumer are still trying to buy products online instead of visiting stores.
This time, after almost two years, Samsung led the smartphone market with a 24 per cent share followed by Xiaomi with 23 per cent, Vivo 16 per cent, Realme 15 per cent and Oppo 10 per cent.
Tech giant Samsung saw 32 per cent year-on-year (YoY) growth, and this was because of the multiple strategies used by the company to satisfy its consumer. These strategies include increasing supply and launching various new models of smartphone in different price range and making the product affordable to the consumer.
However, after two years it was for the first time when Xiaomi was ranked second with 4 per cent year-on-year decline. One of the reasons behind this was the companies incompatibility to meet the demand; this was seen when the demand for Redmi 9 and Note series was so high, but the company was unable to meet the need of the consumer. Also initially boycott of China products created a lot of problems for the company.
Indian smartphone companies like Micromax and Lava may also soon comeback in the market under the Aatmanirbharth initiative as the mobile industry is increasing rapidly.
Nonetheless, since September, companies have started seen high sales because of the ongoing festive season, and almost all the brands recorded growth compared to last year.
Transsion Group brands like Intel, Inflix and Tecno regained their market share in Q3 2020, registering 73 per cent YoY growth, and brands like Apple led the segment suppressing OnePlus.
It is seen that after lockdown, the Indian smartphones market is recovering slowly, and in the past few months, the market has shown consistent growth.