Phone the rich: Premium handsets sole survivors of slump in India, China
Worldwide mobile phone shipments continue to decline, but India and China, two of Asia's major economies, are bucking the trend when it comes to premium handsets.that sales to retailers, distributors and similar fell by 17 percent in the last quarter of 2022 as many worked to clear existing inventory in preparation for a continued spending slowdown.that smartphone shipments declined 18.3 percent year over year to 300.
The 1.2 billion units shipped in 2022 represent the least since 2013. But in India, the decline was below the overall trend at only 9 percent year on year, according toCounterpoint Research attributed the fall – only India's second in the smartphone market – to waning market performance of entry-level and budget segments, thanks to both lowered demand and supply chain constraints.
Meanwhile, its premium segment, defined as smartphones costing roughly more than $365, contributed the highest ever to market revenue at 35 percent.
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