New Delhi: Revenue in India’s smartphone market<\/a> surged 27% to $38 billion in 2021, Counterpoint Research<\/a> said on Monday. It forecast the revenue to grow to $44 billion in 2022.
Shipments grew 11% to 169 million units in 2021, even though the volume fell 8% from a year earlier in the December quarter due to supply issues plaguing the manufacturing ecosystem, the market research firm said.
“The Indian smartphone market witnessed high consumer demand in 2021, making it the best-performing year,” senior research analyst Prachir Singh said, adding that this was achieved despite supply constraints due to the second and more virulent Covid-19 wave, global component shortages and subsequent price hikes.
The market was led by Chinese smartphone maker Xiaomi with a 24% share in shipments, followed by South Korea’s Samsung<\/a> (18%). Chinese players Vivo, Realme and Oppo held 15%, 14% and 10%, respectively, of the market share.
![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
Apple’s iPhone was one the fastest growing brands with 108% growth in shipments last year. It maintained the lead in the premium segment (handsets priced above Rs 30,000).
Premium smartphone brand OnePlus reached its highest ever shipments, crossing the 5-million mark with 59% growth in 2021, driven by the OnePlus Nord Series. It led the affordable premium segment (Rs 30,000-45,000).
5G smartphone shipments<\/a> grew six-and-half times in 2021, led by Chinese Vivo with a 19% share.
According to CounterPoint research analyst Shilpi Jain, the average selling price (ASP) in India’s smartphone retail market grew 14% in 2021 to an all-time high of $227 (about Rs 17,000).
<\/p>