India's Smartphone Market Set to Cross $50 Billion in 2025

India's smartphone market is set to surpass $50 billion in value by 2025, driven by the ongoing trend of premiumisation, according to the latest research from Counterpoint Research.

- Rakesh Kumar @ New Delhi

This significant growth is the result of Indian consumers increasingly opting for smartphones with enhanced features and capabilities, as opposed to sticking with budget-friendly options.

Consumers Willing to Pay More

In simple terms, more and more Indian consumers are willing to spend more on smartphones that offer improved specifications, such as better cameras, faster processors, and premium designs. As a result, the smartphone market is experiencing a shift toward higher-end models, which is driving up the average selling price (ASP) of devices. By 2025, it's expected that the retail ASP of smartphones in India will cross $300 for the first time, a notable milestone in the country's mobile industry.