New Delhi: The smartphone is all set to hit the highest record with 173 million units, growing at 14 year-on-year growth in Indian Market. It is expected from the research that more than 100 million smartphones to be shipped in the second half of the year. Currently, the market has been experiencing strong consumer demand post-Covid-19 restrictions and the momentum might arise during the festive season from August to November.
Amongst the world market rank, India is the second biggest market after China.
In the year 2020, the Indian market has outperformed the North America, Latin America, and Africa markets. And in the next couple of years. Indian market is expected to cross the 200-million mark.
The market has been on a positive and steady growth curve over the last five years. Although a dip of 4 percent in shipment was seen due to Covid-19 restrictions in 2020. However, it has bounced back at a higher rate and registered its highest shipment ever in H1 2021. Hence the economy of India is expected to rise higher again.
The nation will be entering a period of hyper-growth with a low costing JioPhone and in this year, 5G devices will grow over eight times to reach 32 million units and is expected to make up 19 percent of the overall market.