India’s smartphone market revenue increased 27 percent to $38 billion in 2021, as shipments grew 11 percent to 169 million units, according to Counterpoint Research.
Smartphone retail ASP (average selling price) in India rose 14 percent to reach its highest ever at $227 (nearly Rs 17,000).
“The price hikes in the budget segment due to component price rise, increasing focus of OEMs on the premium segment and increased demand for mid-range and premium smartphones due to increasing uses and availability of financing options contributed to the increasing ASP,” said Counterpoint Research analyst Shilpi Jain.
Local manufacturing bounced back, contributing 98 percent shipments in 2021, compared to 90 percent in 2020. Mobile phone exports from India increased 26 percent in 2021.
“The PLI scheme has been a great booster for the Indian mobile manufacturing, attracting companies such as Apple and Samsung to increase their Make in India footprint and make India their export hub,” Shilpi Jain said.
Shipments declined 8 percent in the December quarter due to supply issues plaguing the smartphone manufacturing ecosystem.
Apple was one of the fastest growing brands in 2021 with 108 percent growth in shipments. Apple has maintained its lead in the premium segment (over Rs 30,000) with a 44 percent share.