From smartphones to TVs, premium range electronics sell more in 2022

Sales of premium smartphones, TV, water purifiers and refrigerators did nine times better in value in 2022, reported the Economic Times (ET) citing data from consumer electronics industry.

The upper middle class and the rich continued buying premium electronic products despite a hike in prices. Lower-income consumers largely skipped such products due to inflationary pressures, ET quoted industry executives as saying.

Data from GFK, a market research company, show that smartphone sales increased 35 per cent by value, the growth in sales was 94 per cent for handsets priced above Rs 30,000.

The sale of premium TV models (ultra-HD with screen size of 55-inch and above) went up 95 per cent in value, while the growth for overall television category was 11 per cent.