Festive smartphone sales to hit record

Chennai: Smartphone sales in the country are projected to touch a record $7.6 billion, or about Rs 56,860 crore, this festive season.

According to Hong Kong-headquartered Counter-point Research, the festive season has been driving smartphone sales in India.

“This trend has been accelerated this year by the high pent-up demand backed by aggressive promotions in the mid and premium segments. We estimate that almost $7.6 billion worth of smartphones will be sold during the ongoing festive season,” said Counterpoint senior analyst Prachir Singh.

The highest-ever number is coming at a time when the global smartphone industry is facing component shortages.