Smartphone market may remain under pressure due to global factors in 2023

The Indian smartphone market, which battled global factors such as the inflationary macro environment as well as component shortages due to supply chain issues and the Russia-Ukraine war to register a 5 per cent fall in 2022, is set to remain under pressure next year, showing modest growth.

India currently has more than 600 million smartphone users, a number which is expected to grow over time as more feature phone users migrate to smartphones.