NEW DELHI: India’s smartphone market declined by 10 per cent year-over-year (YoY), and shipping stood at 43 million units in Q32022 (calendar year), according to the International Data Corporation’s (IDC) Worldwide Quarterly Mobile Tracker.
According to IDC, this is the lowest third-quarter shipment since 2019 despite an early onset of Diwali festivities. The reason for lower sales in the quarter is weakening demand and increasing prices. Overall, the ASP (average selling price) reached a record $226, growing by 15 per cent YoY and 6 per cent QoQ.
“The ASP has grown consistently for the past eight quarters in a row due to increasing costs and growing 5G shipments at mid-premium price points,” said Upasana Joshi, research manager, of client devices, IDC India.
The research noted that 5G reached 36 per cent of total smartphones in the third quarter in the current calendar year with 16 million units. India has shipped 67 million 5G smartphones from January 2020 to September 30, 2022. The ASP for 5G smartphones dropped to USD 393 in 3Q2022 from USD 509 in the first quarter of 2020.
In terms of price segment, phones priced under $300 underperformed, as shipments declined by 15% YoY. The premium segment of above $500 continued to remain the highest growing price band with 64% growth YoY and 8 per cent share.