India’s smartphone market to cross $50 billion in value this year: Report

New Delhi:  India’s smartphone market is projected to cross $50 billion in value by 2025, driven by the ongoing trend of premiumisation and thrust on local manufacturing, a report showed on Friday.

The retail average selling price (ASP) of India’s smartphone market is expected to cross the $300 mark for the first time this year, according to latest research from Counterpoint’s ‘India Smartphone Outlook’.

Apple and Samsung are leading this shift by offering competitive options in the premium and ultra-premium segments.

Apple is expected to see strong demand for its Pro models, driven by local manufacturing and recent price reductions across its iPhone lineup.

Meanwhile, Samsung’s value-focused strategy is gaining traction, particularly with its flagship S series. OnePlus, with the launch of its flagship OnePlus 13, is aiming to increase its share in the ultra-premium segment (above Rs 45,000), the report mentioned.

The shift towards premiumisation is also being driven by consumers increasingly opting for offline stores, where they can experience premium smartphones first-hand before making a purchase.

The report stated that growing interest in AI-powered features has further motivated consumers to seek hands-on demonstrations to better understand these innovations and make more informed decisions.

“The Indian smartphone market is evolving rapidly, with original equipment manufacturers (OEMs) increasingly focusing on premium launches to strengthen brand equity, showcase technological capabilities and improve profitability,” the report noted.

In the affordable premium category (Rs 30,000-Rs 45,000), brands such as Vivo, OPPO and OnePlus are attracting consumers by offering advanced camera systems and refined CMF designs.

The planned investment of Rs 6,000 crore by OnePlus in local market expansion in a phased manner is expected to accelerate its recovery and growth.

According to the report, the premium segment (Rs 30,000 and above) in the country is projected to exceed 20 per cent market share by 2025.

–IANS