Festive season to see document smartphone gross sales of $7.6bn in 2021: Counterpoint
Smartphone gross sales within the nation are anticipated to the touch a document $7.6 billion (about ₹56,858 crore) this festive season, in keeping with analysis agency Counterpoint.
The smartphone retail common promoting worth (ASP) through the festive season can be anticipated to develop 14 per cent to succeed in its highest ever at $230 (about ₹17,200). High shopper demand within the mid and premium segments is anticipated to drive the gross sales.
Counterpoint senior analyst Prachir Singh mentioned the festive season has been driving smartphone gross sales in India on account of excessive shopper demand throughout Dusshera and Diwali.
“This trend has been accelerated this year by the high pent-up demand backed by aggressive promotions in the mid and premium segments. We estimate that almost $7.6 billion worth of smartphones will be sold during the ongoing festive season,” Singh mentioned including that this highest-ever quantity is coming at a time when the worldwide smartphone business is dealing with element shortages.
As a consequence, OEMs have been pressured to extend costs, which could have the next impression on the mass market and finances segments, Singh famous.
Counterpoint Research Director Tarun Pathak mentioned though the expansion in market worth through the 2021 festive season is anticipated to be 1 per cent year-on-year, the retail ASP will develop at 14 per cent year-on-year.
“The overall consumer sentiment has been positive going into the festive season. Many consumers have decided to spend from their accumulated savings for something that is more personal. This trend will drive a faster smartphone upgrade during the festive season,” he added.
Apart from this, the 2021 festive season is seeing larger trade-ins and aggressive EMIs that enhance system affordability and assist customers bypass a number of worth limitations, Pathak mentioned.
“This has helped drive the sales of mid-to-high tier (more than $200) smartphone models and, subsequently, the overall ASP. Many OEMs sensed this trend and brought out aggressive offers on premium devices,” he added.
The comparatively larger gross sales of premium section smartphones additionally helped offset the losses within the mass market on account of worth hike, he identified.
This story has been revealed from a wire company feed with out modifications to the textual content. Subscribe to Mint Newsletters * Enter a legitimate e mail * Thank you for subscribing to our publication.
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