India's smartphone shipments declined by 9% YoY to reach over 152 million units in 2022, according to Counterpoint Research.
Made in India TV shipments grew by 33% QoQ in 3Q 2022 to reach over 5 million units, according to Counterpoint Research.
'Made in India' smartphone shipments declined by 8% YoY in 3Q 2022 to reach over 52 million units, according to Counterpoint Research.
Despite the dip in 2022, India's smartphone market has been resilient and performed better than many other regions.
India's market grew by 171% year-on-year to become the biggest smartwatch market in the world, according to Counterpoint Research.
India's wearable market registered another record quarter, shipping 37.2 million units in 3Q22, up by 56.4% year-on-year.
The YoY decline can be attributed to the high base last year due to the pent-up demand during Q3 2021, as well as lower consumer demand in the entry-tier and budget segments in Q3 2022.
About half of India's smartphone owners plan to purchase their next smartphone within a year.
"Made in India" smartphone shipments grew by 16% year-on-year in the second quarter to reach over 44 million units, according to Counterpoint Research.