Mass loses appeal: In India’s smartphone market, premium means business

Value up, volume down: that is the way the Indian smartphone market is headed, for now. Premium smartphones will shape industry growth as shipments for the mass segment decline, say analysts.

The market made 144 million shipments, a proxy for sales, in 2022: the lowest since 2019 and a decline of 10 per cent year-on-year (YoY), according to data from the International Data Corporation (IDC), a market intelligence company. Business shrunk primarily due to a 54 per cent YoY decline in the entry-level segment, also known as the mass segment (sub-$150 or Rs 12,000).

As shipments declined in the overall market, the premium segment grew in 2022.