In the third quarter of this year, India has emerged as the world’s number one smartphone market, beating North America and China. Highly affordable local brands, local manufacturing and festive demand contributed to this surge.
Global brands Apple and Samsung had takers but Indian brands such as Noise and FireBoltt were at the forefront in terms of sale volume. The demand for global products became less due to premium pricing.
In the July-September quarter, India’s share in the smartwatch market was 30 per cent. North America showed 25 per cent and China 16 per cent. Covid restrictions and economic crisis severly hampered China’s growth. North America was the market leader from Q4 2020 to Q2 2022. India expects that the growth will go on in the coming quarters as well.
