look news india
New Delhi: The first quarter of the calendar year 2024 has been disappointing for the smartphone industry. Compared to the same period last year, smartphone sales have declined by 3 to 4 percent. However, with the introduction of new models in the first quarter of 2024, total shipments are expected to increase by 10 to 12 percent from a year ago.
The Indian smartphone market is witnessing a period of sluggish demand since the beginning of this year. A study by Counterpoint said that the momentum of the festive season and beyond could not be sustained this year. Shipments remained stable in calendar year 2023 and ended the year at 152 million units.
Sales were very low during January and February, but demand increased slightly during Holi in March. Demand is sluggish due to increased replacement cycle after festivals and lack of funding policies from the government. Companies expect the second quarter to be better.
Mobile phone company sources said that many new phones were launched in the first quarter, but it may take some time for sales to pick up. We will see a positive impact on sales in the second quarter and we expect it to be better than last year.