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India's smartphone market logs $38 billion revenue, 11% shipment growth in 2021: Counterpoint

India’s smartphone market retail ASP (average selling price) grew 14 per cent (on-year) to reach its highest ever at $227 (nearly Rs 17,000), according to Counterpoint Research.

January 31, 2022 / 01:36 PM IST

India’s smartphone market revenue crossed $38 billion in 2021 with 27 per cent (on-year) growth, as shipments grew 11 per cent to reach 169 million units, a new report showed on Monday.

India’s smartphone market retail ASP (average selling price) grew 14 per cent (on-year) to reach its highest ever at $227 (nearly Rs 17,000), according to Counterpoint Research.

“The price hikes in the budget segment due to component price rise, increasing focus of OEMs on the premium segment and increased demand for mid-range and premium smartphones due to increasing uses and availability of financing options contributed to the increasing ASP,” said research analyst Shilpi Jain.

Local manufacturing bounced back, contributing 98 per cent shipments in 2021, compared to 90 per cent in 2020.