Upgrade to 5G mobile phones to drive growth, aim 60% biz jump in 2023, says POCO

Smartphone company POCO expects an upgrade to 5G mobile phones from 4G coupled with pricing and design strategy to drive growth of the company’s business by 60 per cent in this year, a top official of the company said.

POCO India Country Head Himanshu Tandon told PTI that the sub-`10,000 smartphone segment is likely to be most impacted because of inflationary pressures and rupee depreciation, and the industry will see strong competition in the `20,000-`30,000 mobile phone segment.

“I think the opportunity area for the market to grow is basically the upgrade from 4G to 5G. People upgrading from 4G to 5G smartphones is one of the critical factors that can basically help the overall smartphone industry to grow,” he said.