In 2021, the Indian smartphone market saw strong consumer demand, making it the best-performing year. According to Counterpoint Research, revenue in India’s smartphone industry increased by 27% to $38 billion in 2021.
The report also states that the revenue is expected to reach $44 billion in 2022.
Xiaomi, a Chinese smartphone manufacturer, dominated the market with a 24 per cent share of shipments, followed by Samsung of South Korea (18 percent). Vivo, Realme, and Oppo, all Chinese companies, owned 15 percent, 14 percent, and 10 percent of the market share, respectively.
According to Counterpoint Research analyst Shilpi Jain, the average selling price (ASP) of smartphones in India reached an all-time high of (about $17,000) in 2021.
One Plus, a premium smartphone company, achieved its highest-ever shipments in 2021, breaking the 5 million milestone with a 59 percent increase, thanks to the One Plus Nord Series. It topped the budget premium market (between ₹30,000- ₹45,000).