Smartphone shipments in Q2 down 3% on-year, show recovery signs: Counterpoint

Smartphone shipments in India showed signs of recovery, with the magnitude of decline slowing down to 3% on-year in the second quarter ended June 2023, from an earlier 19% decline in the previous quarter, as a result of base effect, pent-up demand and improving macroeconomic conditions, a research firm said in a report released Monday.

Although this was the fourth consecutive quarterly decline for the overall market, the premium smartphone segment (above Rs 30,000) grew 112% on-year to contribute a record 17% of overall shipments, according to a new report from Counterpoint Research.