Smartphone sales fall below covid-era highs

Smartphone economy faces stagnation despite premium segment growth

- Shouvik Das

India's $40-billion-plus smartphone economy is likely to continue below the demand in the pandemic era, raising concerns around how the market can revive itself.

While a mid-single-digit growth in volume of smartphone shipments has been projected for the year, the overall demand from consumers in the long run remains a concern as India eyes a $500-billion electronics economy by 2030.

With government-affiliated think-tank Niti Aayog valuing India's electronics industry at $155 billion as of the past fiscal, the smartphone economy is important as it accounts for over a quarter of the electronics market, without taking exports into account.