Why is premium smartphone segment witnessing growth in Indian market

While the overall market witnessed a shipment decline, the premium market showcased impressive growth in 2022

As the Indian smartphone market witnesses an overall volume crunch due to declining shipments in the mass segment, analysts expect premium device sales to largely drive growth going forward, as the market shifts from being volume-driven to value-driven.

The Indian smartphone market exited 2022 with 144 million shipments – the lowest since 2019 – declining 10 per cent year-on-year (YoY), according to data from the International Data Corporation (IDC), a market intelligence platform. This primarily came on the back of a 54 per cent YoY decline in the entry-level segment, also known as the