Smartphone sales may grow the slowest in 2020

New Delhi: Growth in India’s smartphone sales next year may ease to its slowest pace as people hold on to their devices for longer due to the lack of innovation in new models and higher average prices, industry executives and analysts said. There’s also been a huge pile-up of inventory left with sellers after a surge in shipments for the festive season, which may take up to six quarters to clear, they added.

Growth in the smartphone industry will be about 5% in 2020, Realme India CEO Madhav Sheth told ET. That’s a level reached in 2016. “The lifecycle of the replacement has increased by three months to 14-15 months, which will delay purchases. This means at least 20% of the possible sales will be postponed to 2021,” he said.