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India had emerged as a rising star in the world of mobile phones. Companies from all over the world are setting up factories to sell mobiles in India. But the report related to the sale of mobiles has put everyone in trouble. Smartphone sales in India fell 27 percent to 29.6 million units in the fourth quarter (October-December) of 2022 from 40.6 million units in the same quarter last year.
Market research company IDC said in a report on Friday that this decline was mainly due to inflationary pressure. According to the report, subdued consumer demand due to high inflation remained a challenge throughout the year despite improvement in the supply side. The report said that in 2022, the sales of smartphones in the around Rs 25,000 ($300) category will fall by 15 percent, while the sales of smartphones between $300-500 and more than $500 ($41,000) will decline by 20 and 55 percent, respectively. The percentage increased.
The share of entry-level smartphones (priced below Rs 12,500) in the overall mobile market is expected to decline from 54 per cent in 2021 to 46 per cent in 2022. Upasana Joshi, research manager, consumer devices, IDC India, said the lack of new mobile devices in the $150 (Rs 12,000) category has restrained growth in the category.
According to Navkendar Singh, associate vice president of equipment research at IDC, rising prices and inventories will continue to be a problem in the first half of the current year. A total of 201 million mobile phones are expected to be sold in the year 2022, which is an annual decline of 12 percent. Xiaomi continued to top the list with a market share of 18.6 percent and 38.3 percent, respectively, on a quarterly and year-on-year basis. However, the company’s sales declined by 38.3 percent in the December 2022 quarter and 25 percent year-on-year.
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