India may witness record sales of smartphones this festive season, says the Counterpoint research. It will be around $7.7 billion (more than Rs61 crore). The report also suggests that one out of every three smartphones sold during the season will be 5G-enabled.
In India, the festive season has always been a time when almost 20 per cent of the annual smartphone sales happen. It is an important time for all industry players. E-commerce channels may catch 61 per cent of the overall sales, says the report. Last year, it was 66 per cent. Amazon’s Great India Festival and Flipkart’s Big Billion Days will begin on September 23.
It is expected that the annual selling price (ASP) during the festive season will grow 12 per cent to reach its highest ever at $242. However, the unit sales may go down by 9 per cent. The festive season will end with the Diwali sale.
There is likely to be a high demand for mid-tier and premium segments. Brands have already started promotions for Rs 15,000 segments. The entry-tier and budget segments have seen a considerable decline in the last few quarters. Growth may occur in these segments, but it will be limited as the consumers in this segment have been under economic pressure.
Not just online channels, but offline market players too are preparing to cash in on the period with promotions and offers.
