[ad_1]
Smartphone Sale in Festive Season: India is expected to witness record sales of around $7.7 billion (over Rs 61,000 crore) this festive season and 1 out of every 3 smartphones sold during the festive season will be 5G enabled. This information has been given in a report on Tuesday. According to Counterpoint Research, e-commerce channels are expected to account for 61 per cent of total sales, down from 66 per cent last year.
Phones will be sold fiercely in the festive season
The retail average selling price (ASP) of the smartphone will increase by 12 per cent to reach an all-time high of $242 during the festive season, though unit sales may decline by 9 per cent (on-year). The report said that India’s smartphone market is entering this festive season with the highest ever channel inventory of over 10 weeks.
Amazon and Flipkart sale will start from September 23
Senior Analyst Prachir Singh said, “Festival season has been the highlight of India’s smartphone market, where around 20 per cent of annual sales happen in four-five weeks. Hence, this festive period is crucial for all players in the value chain. ” The sale will start from 23rd September this year along with Amazon’s Great India Festival and Flipkart’s Big Billion Days.
Festive season smartphone sales to be around $7.7 billion
According to the report’s forecast, smartphone sales in the festive season will be around $ 7.7 billion, which is the highest. However, we anticipate a 9 per cent year-on-year decline in shipments. We have seen a similar trend this year in China’s 618 festival, where shipments declined by 10 per cent.” Diwali The festive shopping season will end with the sale.
Consumer demand will be high in the mid-tier and premium segments
Consumer demand is expected to remain high in these festive sales, especially in the mid-tier and premium segments. Various promotions and offers targeting the Rs 15,000 segment have already been announced by brands and channels on social media. The increasing affordability of these devices due to promotions and offers will increase their sales. This will be further supported by 4G to 5G migration. According to estimates, one out of every three smartphones sold during the festive season will be 5G enabled.
read this also
Stock Market Opening: Market fall, Sensex slipped 215 points near 59500, Nifty opened below 17800
Google’s big move, loan apps will have to be shown on Google Play Store link to NBFC or partner bank
[ad_2]
Source link