Tuesday, March 28, 2023
HomeBusinessIndian telecom market sees 36% worth progress in offline retail

Indian telecom market sees 36% worth progress in offline retail

The Indian telecom market noticed 36 per cent worth progress in offline retail final yr, and 2023 is anticipated to be steady with value-driven progress for the home telecom market in comparison with 2022, a report mentioned on Thursday.

Whereas the worldwide telecom market closed in 2022 with a 9.7 per cent decline in income in comparison with the earlier yr, India was one of many silver linings, in keeping with the report by market intelligence agency GfK.
In 2022, India registered “a double-digit income progress in the identical interval over the earlier yr together with smartphones, core wearables and TWS cellular headsets”, mentioned Kartik Vasudevan, GfK skilled for the Telecom market.

“Whereas the top-tier cities proceed to have a big share, the shift in shopper wants and altering existence are pushing greater adoption of sensible gadgets in Tier 3 and beneath cities which contributed to 50 per cent of the smartphone gross sales unit in 2022 whereas for wearables it contributed to 21 per cent.

“Total, the following stage of telecom market progress will likely be pushed by premium handsets, 5G, and wearable gadgets.”, Vasudevan added. The smartphone class, together with phablets, noticed a 15 per cent demand improve from January to December 2022 in comparison with the earlier yr.

The typical promoting worth (ASP) of smartphones was Rs 17,032, which was a 17 per cent progress over 2021. Accordingly, demand for premium gadgets additionally elevated, with the income contribution of 5G fashions transferring to 44 per cent in 2022.

On the identical time, gadgets with a bigger storage capability of greater than 256GB grew 122 per cent in income in 2022. Wearables as a section continued its upward trajectory in India and grew by 127 per cent when it comes to worth over the earlier yr in offline retail.


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