IDC India forecast a 5-8% on-year growth in 2024 with shipments expected to hit 148 million units, and Counterpoint Research pegged it at 5% with shipments in the 155-157 million range. CMR India estimates overall smartphone shipments to grow by 8-9% with 5G shipments anticipated to grow 40% year-on-year, while TechArc expects the growth at 3-4%.
The rebound is expected after the Indian smartphone market fell in volume terms for two years as demand in the entry-level segment got hit due to adverse macroeconomic factors, which led to higher prices, as well as the pandemic. Smartphone shipments in 2020 declined 1.7%,…