More Than a Billion Smartphones Will Be Sold in India Over the Next Five Years: Counterpoint

The Indian smartphone market is one of the fastest growing one in the world and according to a new report released by Counterpoint Research, the number of smartphone users to surpass 700 million by 2022. At the same time, the research firm predicts that more than a billion smartphones will be sold in India over the next five years. Right now, in India, the mid-range market is possibly the most heated segment with multiple top brands such as Xiaomi, Samsung, Honor, Vivo, Realme battling against each other. Mid-range smartphones (roughly Rs 14,000-Rs 29,000), will grow 20% (year-on-year) in 2018 and by almost four times during the next five years to make it one of the most important smartphone segments in India, the market research firm added.

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Flagship Smartphone Features Diffusing Down to Mid-Range Phones

The sales volume sweet spot is moving from sub-$150 (nearly Rs 10,000) segment towards mid-tier as many features and capabilities common among flagship models, progressively diffuse through to these lower price bands, noted Counterpoint’s white paper on “India Mid-Tier Smartphone Segment and opportunity for SoC players“.

“Features such as full-screen displays, dual-cameras, biometric security and support for Artificial Intelligence (AI) are beginning to make in-roads to the mid-range. They will become widespread over the next few years,” said Tarun Pathak, Associate Director at Counterpoint Research.

Many of these advanced features will be enabled and enhanced through the evolution of the underlying System-on-Chip (SoCs) and other components.

“These features will help OEMs to differentiate their offerings in the mid-tier segment at a time when overall smartphone innovation is perceived to have plateaued,” Pathak added.

India Currently Has 400 Million Smartphone Users

India is the second largest smartphone market in the world after China. It has just surpassed 400 million smartphone users. However, this accounts for just 44% of the potential total addressable market for smartphones as the country is underpenetrated relative to many other markets.