New Delhi, June 17 (Ajit Weekly News) ‘Made in India’ smartphone shipments grew 7 per cent year-over-year (YOY) in the first quarter of 2022 to reach over 48 million units, says a new report.
According to market research firm Counterpoint, the local smartphone manufacturing ecosystem stayed resilient amid global component shortages.
“Smartphone manufacturing is increasing in India. In 2021, the shipments of ‘Made in India’ smartphones crossed 190 million units,” Prachir Singh, Senior Research Analyst, said in a statement.
“The increasing smartphone demand in India, as well as increasing exports, are the major reasons for the continued growth. Support has also come from the Indian government’s various initiatives to increase local manufacturing,” Singh added.
OPPO led the ‘Made in India’ smartphone shipments with a 22 per cent share, followed closely by Samsung at 21 per cent.
However, the manufacturing of feature phones declined 41 per cent YoY in the first quarter due to falling demand for the past few quarters.
“The government’s focus has been to make India a manufacturing hub. It has taken a lot of initiatives in this direction. The Production Linked Incentive (PLI) scheme for mobile handsets proved to be an accelerator for local manufacturing,” said Priya Joseph, Research Analyst
–Ajit Weekly News