Premium segment and 5G-enabled smartphones drove the majority of growth this festive season, says report – Times of India
The last few months were full of festivities, and the festive season brings deals and discounts on different products, including smartphones. This year, the premium smartphone segment saw rapid growth during the two weeks of Navratri and Dusshera, as per a study conducted by GFK, a market data and analytics firm.
As per the report from GFK, overall smartphone sales witnessed an increase of 40 per cent during the festive season of Navratra and Dusshera compared to the weeks preceding. The premium segment, which broadly includes smartphones priced above Rs 50,000, was the pivotal factor for the growth this season. Meanwhile, 5G-enabled smartphones also played a key role in sales this year.
5G smartphones saw major growth this festive season
The firm reports that the share of 5G devices this festive season grew by 51 per cent while constituting for 48 per cent of the total market share during the Navratri and Dusshera festive season. Last year, the share of 5G smartphones was at 24 per cent during the same period. The total contribution by the value of the 5G smartphones was around 75 per cent.
Compared to the weeks of Navratri and Dusshera, there was a 41 per cent increase in the volume during Diwali.
The sub-15K price segment accounted for the majority of the sale, having a 24 per cent market share. However, it saw a slight decrease compared to the last year, as the market share was at 34 per cent during the same period in 2021.
Manufacturers trying to clear up 4G smartphone inventory with deals and discounts
The report suggests that the sales of 4G devices increased by 48 per cent during the Dhanteras and Diwali time. While the 5G smartphones saw a 32 per cent increase. The report indicates that manufacturers are trying to clear the inventory of 4G smartphones through discounts and deals.
Anant Jain, Head of Market Intelligence, India at GfK, said: “This festive season, Indian smartphone shoppers were back in action, splurging after the mood-dampening
COVID-19 pandemic in previous years. Every year, by the end of September, people do not shop due to Shradh, which is immediately followed by festivities. That is when people tend to splurge the most. GfK’s weekly report reflects interesting insights into the festive season. The premium smartphone segment during the same time period (₹40K+ segment) grew by 60%. Total smartphone category revenue grew by 38% where 6-6.5″ screen size contributed 54% by value and grew by 41%- during Navratri and Dusshera v/s Shradh season this year.”
As per the report from GFK, overall smartphone sales witnessed an increase of 40 per cent during the festive season of Navratra and Dusshera compared to the weeks preceding. The premium segment, which broadly includes smartphones priced above Rs 50,000, was the pivotal factor for the growth this season. Meanwhile, 5G-enabled smartphones also played a key role in sales this year.
5G smartphones saw major growth this festive season
The firm reports that the share of 5G devices this festive season grew by 51 per cent while constituting for 48 per cent of the total market share during the Navratri and Dusshera festive season. Last year, the share of 5G smartphones was at 24 per cent during the same period. The total contribution by the value of the 5G smartphones was around 75 per cent.
Compared to the weeks of Navratri and Dusshera, there was a 41 per cent increase in the volume during Diwali.
The sub-15K price segment accounted for the majority of the sale, having a 24 per cent market share. However, it saw a slight decrease compared to the last year, as the market share was at 34 per cent during the same period in 2021.
Manufacturers trying to clear up 4G smartphone inventory with deals and discounts
The report suggests that the sales of 4G devices increased by 48 per cent during the Dhanteras and Diwali time. While the 5G smartphones saw a 32 per cent increase. The report indicates that manufacturers are trying to clear the inventory of 4G smartphones through discounts and deals.
Anant Jain, Head of Market Intelligence, India at GfK, said: “This festive season, Indian smartphone shoppers were back in action, splurging after the mood-dampening
COVID-19 pandemic in previous years. Every year, by the end of September, people do not shop due to Shradh, which is immediately followed by festivities. That is when people tend to splurge the most. GfK’s weekly report reflects interesting insights into the festive season. The premium smartphone segment during the same time period (₹40K+ segment) grew by 60%. Total smartphone category revenue grew by 38% where 6-6.5″ screen size contributed 54% by value and grew by 41%- during Navratri and Dusshera v/s Shradh season this year.”
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
