Expectation: India’s smartphone market to cross $50 billion, sales to accelerate in 2025
New Delhi| The country’s smartphone market will cross $50 billion (Rs 4.29 lakh crore) by 2025 due to the emphasis on local manufacturing. The retail average selling price (ASP) of India’s smartphone market is expected to cross $300, or Rs 25,700, for the first time this year, Counterpoint reported.
The report said that Apple and Samsung are leading this change by offering competitive options in the premium and ultra-premium segments. The Indian smartphone market was estimated to be $37.9 billion (approximately Rs 3.25 lakh crore) in 2021. Apple India’s income was Rs 67,121 crore from mobile phones in FY 2024. Samsung has reported revenue of Rs 71,157 crore
Chinese brands like Vivo, Oppo and OnePlus are attracting customers by offering superior camera systems etc. between Rs 30,000-45,000 in affordable premium category. Meanwhile, OnePlus is making a comeback by addressing the concerns of Indian retailers related to displays and motherboards. The company has invested Rs 6,000 crore.
The share of smartphones in the premium segment (above Rs 30,000) is projected to exceed 20 per cent by 2025, the report said. The shift towards premiumization is also due to customers choosing offline stores, where they can experience premium smartphones firsthand before making a purchase.
