India 5G phone market to expand over 70 per cent by end of 2023: Report
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The India 5G smartphone market is expected to expand by more than 70 per cent (on-year) by the end of CY2023, a report said on Tuesday.
The India smartphone market recorded more than 13 times growth in its 5G shipments from the year of its initial introduction in 2020.
"From a mere 4 per cent in CY2020 to a potential more than 45 per cent market share in CY2023, 5G smartphones have definitely come a long way," said Menka Kumari, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).
In CY2022, close to 100 5G smartphones were launched in the India market.
"In 2023, we anticipate close to 75 per cent of the new smartphones to be introduced in the India market to be 5G-capable," she added.
Samsung, OnePlus and Vivo led the India market in 5G smartphone shipments in CY2022.
In the 5G Value for Money (Rs 10,000-Rs 25,000) price segment, Xiaomi and realme were the major contributors.
"Going forward, we anticipate further momentum for 5G smartphone shipments in the new year driven by strong consumer demand and aggressive 5G network deployment by Indian telcos," said Shipra Sinha, Analyst-Industry Intelligence Group (IIG), CMR.
The key for mass 5G adoption in India will depend, amongst others, on the introduction of 5G smartphones in the affordable smartphone segment (less than Rs 10,000).
"Alongside, better 5G availability and accessibility will be key for consumer experience," Sinha added.
