Premium smartphone market witnessing growth: Report


NEW DELHI: According to GfK market and consumer intelligence, the overall smartphone sales in terms of units for offline retail (point-of-sales) grew by 4% whereas online retail sales grew by 29% during YTD Oct 2021 compared to 2020. The report adds that during the same period, online channel contribution for the smartphone market accounted for 40% in terms of sales units and 41% in terms of sales value vs 35% in 2020. The data highlights the rise in consumer trust and digital payment methods.
Talking about the price trends, GfK Market Intelligence suggests that the premium smartphone category witnessed a 56% increase in sales. Sales also went up for smartphones priced above 40k by 41%, which underlines the increasing demand for premium products in the Indian smartphone market.
GfK insights also revealed the geographical penetration of the smartphone market. The overall sales for smartphones in tier 5 and above representing less than 50,000 population registered 11 per cent volume growth in offline retail during YTD Oct 2021/2020, followed by a 7 per cent increase in tier 3 cities.
Kartik Vasudevan, director – sales, GfK India, said, “Smartphone market is still dominated by less than 15k price segment, however, there has been an increase in sales of premium products as mobile phones have essentially become first digital touchpoint or device to access internet.”


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