According to a report released on Tuesday, the India 5G smartphone market is expected to grow by more than 70% year on year by the end of CY2023.
From the year of its initial introduction in 2020, the India smartphone market saw a more than 13-fold increase in 5G shipments.
"From a mere 4 per cent in CY2020 to a potential more than 45 per cent market share in CY2023, 5G smartphones have definitely come a long way," said Menka Kumari, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).
In CY2022, close to 100 5G smartphones were launched in the India market.
"In 2023, we anticipate close to 75 per cent of the new smartphones to be introduced in the India market to be 5G-capable," she added.
In CY2022, Samsung, OnePlus, and Vivo shipped the most 5G smartphones in India.
Xiaomi and realme were the top producers in the price range of 5G Value for Money (Rs 10,000–Rs 25,000).
"Going forward, we anticipate further momentum for 5G smartphone shipments in the new year driven by strong consumer demand and aggressive 5G network deployment by Indian telcos," said Shipra Sinha, Analyst-Industry Intelligence Group (IIG), CMR.
The release of 5G handsets in the area of low-cost smartphones is essential for widespread 5G adoption in India (less than Rs 10,000).
"Alongside, better 5G availability and accessibility will be key for consumer experience," Sinha added.
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