India’s Smartphone exports down 19 percent in March quarter

New Delhi: India’s smartphone exports fell 19 per cent year-on-year to around 31 million units in the January-March quarter. Market research company Counterpoint gave this information on Thursday. According to this report, there has been a sharp decline in the export of mobile phones priced below Rs 30,000, while the export of high-end and ultra-high-end mobiles has increased by 60-66 percent. Counterpoint’s market monitoring service report said, “The last March quarter has been the first quarter of the calendar year with the biggest decline in India’s smartphone market.”

Softening in demand, accumulation of goods since 2022 and increasing consumer preference for older phones are the reasons for this decline. 5G phones accounted for a record 43 percent of total smartphone exports. According to the report, “Samsung has the highest share of 20 percent of the smartphone market in India for the second consecutive quarter. This company is also on top in the 5G brand. ”””’ Exports of Samsung’s very expensive (costing more than Rs 45,000) category phones increased by 247 percent in March 2023 on an annual basis. Apple’s exports grew 50 per cent year-on-year and its market share rose to six per cent in the March quarter.

Apple’s share in the high-end (Rs 30,000) and ultra-high-end (Rs 45,000 and above) categories was 36 per cent and 62 per cent, respectively. Prachir Singh, senior research analyst at Counterpoint, said, “The trend of selling premium phones is getting stronger with each passing quarter. The share of the high-end phone category has almost doubled in the first quarter of 2023 as compared to the first quarter of 2022. According to the study, exports of mobile phones priced at Rs 20,000-30,000 declined by 33 per cent while those priced at Rs 10,000-20,000 Exports declined by 34 percent in the Rs. At the same time, the export of phones priced below Rs 10,000 has decreased by nine percent on an annual basis.