Internet subscriber base growth slows sharply in 2022, may remain subdued this year too

New mobile internet subscribers fell 40-45% in 2022 following the jump in base smartphone prices, weighing down India’s internet user base growth, a trend likely to continue in 2023, said industry experts and analysts.

“The number of new subscribers using the mobile internet per year plunged from pre-Covid levels of 60-70 million to around 35-40 million in CY2022, which has resulted in telcos potentially losing out on around a $300 million additional revenue opportunity, assuming that the extra 25 million new mobile broadband users would have easily generated at least $1 of incremental monthly ARPU for the operators,” said Tarun Pathak, research director at Counterpoint.