The downturn in shipments was offset by a significant move towards higher-priced smartphones. The premium segment (devices priced above ₹30,000) now accounts for a substantial portion of the market’s value, reflecting consumers’ growing preference for feature-rich devices. This trend has been bolstered by attractive financing options, trade-in programs, and bundled offers that make premium devices more accessible.
“Key brands, dealing with high inventory levels, prioritised clearing excess stock to stabilize operations and set a stronger foundation for the remainder of the year. Despite this inventory adjustment, consumer demand for ultra-premium products remained strong,” said Prachir Singh, senior research analyst, Counterpoint Research.
