The smartphone market in India is booming – Counterpoint reports consumers are shifting towards more premium models as consumers look for phones that can game, run AI and capture higher quality images. Affordable financing schemes and trade-in offers are also driving the move to pricier tiers.
The premium smartphone segment (>₹30,000) has reached its highest-ever share by volume at 20%. Looking at the share by value, this segment accounts for 51% – that is to say that more than half the money spend on smartphones in India are spend on a premium device.
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