With the economic slowdown starting to show its impact, several industries in India are feeling the strain. This brings us to the key question, will Indian consumers put off buying smartphones, therefore hitting the market altogether?
It’s interesting to see differing opinions, but with the festive period closing in, most brands are optimistic of continuing the trend of growth in the mobile phone market.
Xiaomi, the leading brand in the country, has been vocal about how the market is unlikely to slow down anytime soon. In fact, Xiaomi expects the industry to grow further in the coming months before end of 2019.
Prabhu Ram, Head Analyst with Cybermedia Research (CMR) also concurs with Raghu, again pointing out that the upcoming festive season could be the stimulating factor for demand.
“On the back of new buyers, as well as those seeking upgrades, essentially the new breed of aspirational Indians, CMR anticipates the smartphone market to be immune from potentially any economic slowdown, and in fact, grow,” said Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR.
- Prabhu believes the entry level (sub Rs 7,000) as well as the value-for-money (Rs 7,000 to Rs 25,000) segment will take charge of the sector’s growth. Apple will also be expecting better interest for its upcoming iPhone series, which could also help the sector retain its outlook.
Source: The Quint