Made in India smartphone shipments rose by 16% YoY in Q2 2022 – Counterpointa
In Q2 2022, shipments of smartphones made in India increased by 16 percent year over year to exceed 44 million units, according to the most recent study from ounterpoint. With a 24 percent market share, Oppo dominated the shipment of smartphones made in India. Samsung eagerly pursued Oppo's lead. With a 21% market share, the homegrown brand Lava dominated the Made in India feature phone market. TWS dominated the wearables market with a 16 percent market share, followed by neckbands and smartwatches. In Q2 2022, the shipping of smartphones manufactured in India increased by 16 percent year over year to reach over 44 million devices, according to a recent Counterpoint study. The corporations' quest for increased output to meet the requirements of the PLI schemes was mentioned as the cause of this.
Shipments of smartphones made in India increased 7% YoY in the first quarter of 2022. 48 million smartphones made in India were shipped in the first quarter of 2022.
According to Counterpoint Research Analyst Prachir Singh, "The Made in India smartphone shipments increased as compared to last year," when speaking about the local manufacturing ecosystem in India. We observed growing investments in the Indian manufacturing environment throughout the quarter, with new factories being built as well as old ones being expanded. Oppo recently unveiled the Vihaan programme, as part of which it intends to invest $60 million over the course of the following five years to strengthen the local supply chain. Samsung increased its production of high-end smartphones, particularly the Galaxy S series. Future Made in India shipments would be further driven by the impending holiday season due to the anticipated rise in domestic demand.
Oppo, which has a 24 percent market share of the Made in India smartphone shipments, is now in first place, followed by Samsung. Lava, an Indian tech company, had a 21 percent market share in the Made in India feature phone market. TWS dominated the wearables market with a 16 percent market share, followed by neckbands and smartwatches.
India's ecosystem for electronics production and innovation is predicted to grow quickly.
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