The Indian smartphone market increased by 4% in Q1 but predicted to decrease by 10% this year
India has developed as one of the fastest-growing smartphone businesses in the last decade, reporting increase each quarter even as handset shipments stalled or declined elsewhere globally.
But the world’s second-largest smartphone is starting to feel the coronavirus flame, too.
The Current Scenario
The Indian smartphone market increased by a modest 4% year-over-year in the quarter that concluded on March 31, analysis firm Counterpoint said Friday evening.
The shipment raised yearly in January and February when many firms launched their smartphones and revealed competitive promotional plans.
However in March, the shipment noticed a 19% year-over-year drop, the firm stated.
Counterpoint calculated that the smartphone purchases in India would decrease by 10% this year, compared to an 8.9% increase in 2019 and a 10% increase in 2018.
The analysis firm also warned that India’s lockdown, established last month, has critically slowed down the local smartphone enterprise and it might take seven to eight months to get back on course.
Currently, just picked items such as grocery products are allowed to be sold in India.
What The Experts Say
Prachir Singh, a Senior Research Analyst at Counterpoint Research, stated that the COVID-19 influence on India was comparatively mild until mid-March.
Overall, 31 million smartphone units dispatched in India in Q1 2020.
Chinese smartphone producer Xiaomi, which has been the tentpole place in what has become its largest market globally for more than two years, extended its lead to hold 30% of the market.
Vivo’s shares rose to 17%, higher from 12% over the same period last year.
Samsung, which once led the Indian market, presently is at the third spot with 16% market share, dropping from 24% in Q1 2019.
Apple persevered its current momentum and increased by a steady 78% year-over-year in Q1 this year.
It now controls 55% of the premium smartphone division.
More than 100 smartphone factories in India collect or generate about 700,000 to 800,000 handsets a day, few of which are shipped outside of the nation.
Although the lockdown has suspended the production and can cost the industry more than $3 billion to $4 billion in a straight loss this year.
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