India’s smartphone market shipments are set to hit a record high of 173 million units in 2021 at 14% YoY growth, according to Counterpoint Research’s report. The report published on August 20 shows that India will ship 100 million smartphones in the second half of 2021.
“The market has been experiencing strong consumer demand after the lifting of COVID-19 restrictions in June. The strong sales momentum will continue during the festive season from August to November.” It said in the report.
“The biggest factor pushing the market could be the launch of Reliance Jio’s low-cost Android phone JioPhone Next in September, which will enable migration of feature phone users to smartphones.” the agency further added.
India’s smartphone market is the second biggest market in the world after China. In 2020, the Indian market outperformed the North America, Latin America, and Africa markets.
“Our outlook for India for the next five years remains positive, keeping in mind its 1.39-billion (and growing) population, upgrade of users from feature phone to a smartphone, and future emergence of new use cases. The market is set to cross the 200-million mark in the next couple of years,” said the analysis firm.
The research firm also added that India’s 5G market will also expand to reach 32 million units in 2021. “The average price of entry-level 5G devices has come down by 40% in the last 12 months. Preference for 5G devices is high in India, with 21% of consumers claiming it is one of their top three priorities while purchasing their next phone.” the agency said in the report.