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THE SMARTER THE BETTER
Fortune India
|March 2020
DESPITE THE STRESS IN THE TELECOM SPACE, CALL DROPS, AND A SPUTTERING ECONOMY, IT'S BEEN MOSTLY SMOOTH SAILING FOR THE UPPER END OF THE SMARTPHONE INDUSTRY IN 2019

Delhi-based senior schoolteacher Jyotsna Varma, 46, has been using her iPhone 7 since Diwali 2018. Its all-in-one capabilities, friendly user interface, and robust performance continue to work for her so a handset upgrade is not imminent. But when it does happen, it will be to an iPhone 11, she says.
Bengaluru-based Romit Dasgupta, 28, a senior analyst at an American bank, bought his OnePlus 7 Pro for its powerful hardware and call quality. Any replacement will be another premium handset, he says. He’d rather delay buying a phone than pick up a cheaper alternative.
IT’S TOO PREMATURE—and a bit of a stretch—to liken it to a lipstick economy but there is an interesting parallel in the continued consumer indulgence in smartphones. The ubiquitous gadget—similar to the markets currently—is defying economic realities in India. Despite the stress in the telecom space because of regulatory issues, call drops, and a sputtering economy, it’s been largely a buoyant period for the upper end of the smartphone industry in 2019. Especially premium smartphones which are priced above ₹30,000, but below ₹50,000.
According to data from analytics firm Counterpoint Technology Market Research, the premium market grew at 29% in 2019, while the overall smartphone market grew at 7%. And though premium smartphones account for less than 5% of the overall market, Counterpoint says the segment has the potential to grow 3x-4x.
Denne historien er fra March 2020-utgaven av Fortune India.
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