Despite festive cheer, smartphone shipments to remain weak in 2023

Despite an uptick in festival season sales compared to the previous year, domestic smartphone shipments to retail outlets or carriers will either remain stagnant or experience a 1-2% decline in the current calendar year, at around 140-142 million units.

According to market tracking firms, the reason for weak smartphone shipments for the second straight year in the country can be attributed in general to the inflationary stress, and specifically to higher inventory levels with the dealers post Diwali sales. Further, weaker sales in the first half of the year also weighed on the overall shipments for 2023. In 2022, the smartphone shipments fell nearly 11%.