The insights from report suggests that there has been more than 25 per cent jump in the demand for premium smartphones from January to July 2022 overall
A new report indicates that the premium smartphone segment is seeing rapid increase in demand from beyond Tier 1 cities in India. It says that there has been a 40 per cent jump in the demand Tier 2 and beyond.
The insights from report suggests that there has been more than 25 per cent jump in the demand for premium smartphones from January to July 2022. From this, there has been a 40 per cent increase in the demand from Tier 2 and beyond alone with cities such as Guntur, Hisar, Moradabad, Shahjahanpur, and more. The insights from the Flipkart report says that the demand for premium smartphones initially picked up in the metros but lately Tier 2 and beyond cities are contributing notably to this over last few years. In recent times, e-commerce platform Flipkart has observed a growth of more than 60 per cent in the number of new launches (in the premium segment) across brands like Apple, Samsung, Google Pixel, OPPO and Nothing.
As per global research firm Counterpoint, India’s smartphone user base crossed the 600-million mark during April-June quarter with 5G smartphone shipment share reaching 29 per cent of overall shipments in Q2 2022, which was the highest ever. The growth in upper and premium segments is primarily due to the availability of financing schemes aimed at increasing device affordability.