India anticipates 70-75% surge in 5G smartphone shipments during festive season

India is anticipated to experience significant growth in 5G smartphone shipments during the festive season, with an estimated 70-75% annual increase, according to a report. Up until July of this year, the country had already witnessed a 65% YoY increase in 5G handset shipments. This growth was evident in both value-for-money smartphones (priced between Rs 7,000 and Rs 25,000), which saw a 61% YoY rise, and premium 5G smartphones (priced at Rs 25,000 and above), which experienced a 68% YoY increase.

The market leader in 5G smartphone shipments in India was Samsung, holding a 25% market share, followed by Vivo with 14%, and OnePlus with 12%, as indicated by the data. Approximately 150 new 5G smartphone models are expected to be launched in India this year, representing a 34% increase from the previous year.

While the overall Indian smartphone market contracted by 6% YoY in the second quarter of 2023, 5G smartphone shipments grew by 45% YoY. These 5G smartphones captured a 47% market share in Q2 2023, up from 31% in the same period the previous year, according to Shipra Sinha, Analyst-Industry Intelligence Group at CMR.

Moreover, a recent Ericsson Consumer Lab Report revealed that around 31 million Indian users are likely to upgrade to 5G phones in 2023. This presents a significant opportunity for further 5G adoption in the country. In India, 5G has led to a 30% increase in overall network satisfaction compared to 4G. 5G users in India are known for their extensive engagement with apps, including HD video streaming, video calling, mobile gaming, and augmented reality.

The festive season is traditionally a time when consumers are eager to make new purchases, and this trend seems set to continue with the growth of 5G smartphone shipments in India.

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Inputs from IANS