The India 5G smartphone market is expected to expand by more than 70 percent (on-year) by the end of CY2023, a report said on Tuesday.
The Indian smartphone market recorded more than 13 times growth in its 5G shipments from the year of its initial introduction in 2020.
“From a mere 4 percent in CY2020 to a potential more than 45 percent market share in CY2023, 5G smartphones have definitely come a long way,” said Menka Kumari, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).
What brands led the Indian 5G smartphone market
In CY2022, close to 100 5G smartphones were launched in the Indian market.
“In 2023, we anticipate close to 70 percent of the new smartphones to be introduced in the India market to be 5G-capable,” she added.
In the 5G Value for Money (Rs 10,000-Rs 25,000) price segment, Xiaomi and realme were the major contributors.
The key to mass 5G adoption in India will depend, amongst others, on the introduction of 5G smartphones in the affordable smartphone segment (less than Rs 10,000).
5G Launch in India
Prime Minister Narendra Modi launched 5G services in October last year and in the last three months, 5G has been rolled out in more than 18 states and over 100 cities. Reliance Jio and Airtel have been introducing next-gen networks to more cities and towns on a weekly basis.
“As consumers seek to switch and upgrade their phones, inclination towards 5G smartphones is bound to rise. Going forward, we anticipate further momentum for 5G smartphones shipments in the new year driven by strong consumer demand and aggressive 5g network deployment by Indian telcos,” said Shipra Sinha, Analyst-Industry Intelligence Group (IIG), CMR.
“Alongside, better 5G availability and accessibility will be key for consumer experience,” Sinha added.–IANS
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