‘Made in India’ smartphone shipments dropped in the September-ending quarter, marking the first decline this year amid a fall in demand and economic uncertainties, research firm Counterpoint said on Tuesday.
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Shipments fell to over 52 million units, dropping 8% from the same time in the previous year, the report noted.
“Economic headwinds that led to a decline in consumer demand, and market uncertainties due to geopolitics were the prime reasons for the contraction,” Counterpoint said in a blog post.
OPPO led when it came to ‘Made in India’ smartphone shipments in the quarter, with a 24% share - followed by Samsung and vivo.
However, the country’s smartphone manufacturing sector continues to grow with the government’s increased focus on it by providing incentives like the Production Linked Incentive (PLI) scheme, and with multiple partnerships happening in recent months, like the ones between Tata Group and Wistron and between Foxconn and Vedanta, senior research analyst, Prachir Singh, said in the post.
Counterpoint expects the manufacturing volumes to grow further with an increasing focus on original equipment manufacturers (OEMs) exporting to other countries.
The main focus points of the government under the ‘Make in India’ scheme have been increasing local value addition and exports, the research firm noted.
