Smartphone demand slumps 20-25% since Diwali

New Delhi: After record breaking sales of smartphones till Diwali, smartphone demand has slumped 20-25% on-month in November so far, retailers and market watchers say. The pan-India offline retail association said they have had a Black Diwali this year anyway with sales falling over 50% on year.

Market Intelligence firm Counterpoint is estimating a 20-25% drop in November and further decline in December. Month-on-month sales is usually down straight after Diwali, but the downside this year could be sharper given that peak demand in the lead up to the festival was the highest ever, analysts say.