India smartphone market to grow by 10% and reach 175 mn units in 2023

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Reports have predicted that the Indian smartphone market will grow by 10% and reach 175 million units by next year (2023).

Driven by the 5G push and a high installed base, India’s smartphone market is expected to grow 10 percent to reach 175 million units in 2023, a report showed on Friday.

Today, India has more than 600 million mobile phone users, which is expected to grow over time as more feature phone users migrate to mobile phones.

Replacement demand from these users will drive the market in 2023 and beyond, according to Counterpoint Research.

5G networks are now live in many cities. Although 5G smartphones are news in the market, they will only have a third of the market in 2022.

“5G has been high on the wish lists of Indian consumers and with the availability of 5G networks, many consumers will replace 4G mobile phones in 2023,” the report mentions.

According to Counterpoint Research, smartphone shipments will fall 5% annually in 2022, the second decline in the last three years.

Smartphone purchases will be encouraged by the government. Rajasthan has floated a tender to procure and distribute phones among women in 2023.

“We also expect the macro inflation environment to improve next year. Hence, consumers who delayed buying a new smartphone in 2022 will be able to buy a new one in 2023,” said research analyst Ankit Malhotra.

According to the report, the Indian market has seen a steady rise over the past five years, with Covid-19 2020 growing 1.5 times from 2016 to 2021.

The market did not meet expectations in 2022. He started the year with poor ingredients.

But while the situation on the supply side improved in the first half of 2022, consumer demand did not improve as expected.

Despite the decline in 2022, the mobile phone in India

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