Weekly recommended reads from Techarc - 62nd Edition
India estimated to sell 100 MN smartphones in 2H’24, 80% of them to be 5G
AI, CMF (Colour-Material-Finish) to be the key drivers of differentiation, 5G in the lower tier segments. No big shift expected in market leadership positions; however, challenger brands to see further fragmentation.? Online likely to contribute more than 55% of the total sales.
Gurugram – In its mid-year review released today for the India smartphone market, Techarc today said it estimates the 2H (Jul-Dec) 2024 sales of smartphones are likely to cross 100 million units.? This will take the total annual sales of smartphones for the entire year to settle at 155-158 mn. That would be a 7-9% increase in volume sales over previous year.? The factors leading to the growth include harmonisation of sales potential across all segments after focus of the ecosystem at the lower-tier segments, routine replacement and upgrade cycle sales, and innovations led by AI, form-factors & CMF enticing a niche segment of early adopters even if the visibility about tangible use cases and applications remains vague.? The likely politico-economic stability expected after the conclusion of general elections in May is also seen as a factor in bringing the market back in action.
Commenting on the mid-term review, Faisal Kawoosa, Chief Analyst and Founder, Techarc said, “The big shift in the strategy of smartphone OEMs after the covid era will start showing its impact in the second half of 2024 and define the market dynamics for next couple of years for the smartphone industry in India.”
Chart of the week
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