India’s Q1 smartphone sales point to $45 bn mkt in FY25

After enduring two consecutive years of a decline, India, the world's second-largest smartphone market, is showing signs of a recovery.

The first quarter of the year has ushered in a wave of optimism, signalling a resurgence for brands, such as Samsung, Xiaomi and Vivo, with the industry witnessing an impressive 18% rise in market value, soaring to $9.5 billion— the highest first-quarter revenue in the past five years.

Despite the first quarter of a fiscal year being a relatively subdued period for sales historically, a consensus poll of four industry analysts by Mint, project a robust growth trajectory for the full year.

Forecasts indicate a potential 15% revenue surge, breaching the $45 billion mark in FY25, compared to $39 billion in the previous fiscal year. Interestingly, this bullish outlook is despite the market volumes, which is expected to remain flat compared to 2023 levels, with projections hovering at 151-155 million units.

On Thursday, Counterpoint India said in a report that smartphone sales recorded an 8% growth from a year earlier, with shipments likely surpassing 33.5 million units. While this marks an improvement over last year, it falls short of the market's post-pandemic highs.

The driving force behind this revival is the rise in average selling prices (ASPs) of smartphones. As per Mint’s analysis, the ASP stands at $295, or around ₹24,600—up 20% in the past two years. This trend, hints at a premiumization of India's smartphone market, after enduring eight consecu6.5