Smartphone market dips 27% in Q4 over inflation – Times of India

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NEW DELHI: Smartphone shipments slipped by over 27% within the October-December quarter, pulled down primarily by inflationary pressures, market analysis agency IDC mentioned on Friday.
Shipments within the final quarter of 2022 stood at 29.6 million items towards 40.6 million items within the year-ago interval.
IDC mentioned that inflation remained a problem all year long regardless of the improved provide state of affairs.
Smartphone shipments within the sub-$300 (about Rs 25,000) value phase declined by 15% whereas mid-premium and premium value segments of $300-500 and over $500 (Rs 41,000) grew by 20% and 55% respectively throughout 2022.
The market share of entry-level smartphones, beneath Rs 12,500 apiece, shrunk to 46% from 54% a 12 months in the past.
IDC India, analysis supervisor, Shopper Units, Upasana Joshi mentioned dearth of recent launches in sub-$150 (about Rs 12,000) smartphone phase restricted its progress.
In response to IDC affiliate vice chairman, gadgets analysis, Navkendar Singh, rising costs and extra inventories are anticipated to be a priority no less than through the first half of the present 12 months.
“We should always anticipate a slightly tough and elongated restoration for the smartphone market, as worries round rising costs and extra inventories will stay a priority no less than within the first half of 2023. Distributors and channel companions must rethink their plans for his or her entry-level portfolios, driving 5G machine affordability with enticing trade-in programmes and financing schemes,” Singh mentioned.

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