Smartphone Market

According to Counterpoint Research, the global smartphone market will see 2 per cent (year-on-year) growth in 2023. Smartphone shipments for 2022 lowered to 1.24 billion units on economic headwinds from the previous forecast.

Mobile phone exports raced past the $5 billion-mark within seven months. This is more than double of $2.2 billion that India clocked in the same period last year. On a tweet by Minister of State for Information Technology and Electronics, Rajeev Chandrasekhar, the Prime Minister replied, "India continues to make strides in the world of manufacturing."

According to the latest research from Counterpoint's 'Market Monitor service,' the decline, which is the first ever for a Q3, can be attributed to the high base last year due to the pent-up demand during Q3 2021, as well as lower consumer demand in the entry-tier and budget segments in Q3 2022.

According to Counterpoint Research, the smartphone market remained under pressure given deteriorating economic conditions. Ongoing international political tensions resulting in economic uncertainty hit the smartphone market, even though it reversed its slide below the 300-million-mark last quarter thanks to a slight quarterly recovery in Apple and Samsung shipments, according to the report.

According to the Strategy Analytics report, the market for smartphone image sensors experienced a decline of more than 5 per cent year-over-year in the first half. Sony Semiconductor Solutions captured the top spot with 44 per cent revenue share, followed by Samsung System and Omnivision in the same period. Sony, Samsung and Omnivision captured nearly 83 per cent revenue share in the global smartphone image sensor market.

The world's largest memory chip and mobile phone maker said its operating profit for the three months ending in September was predicted to come in at 10.8 trillion won ($7.7 billion), down 31.7 per cent from 15.82 trillion won from the year-ago period. The figure was the lowest third-quarter profit since 2019, when the corresponding tally was 7.78 trillion won.

The Galaxy series of smartphones were among the most sought-after devices on both major e-tailers Amazon and Flipkart. In value terms, Samsung sold Galaxy devices worth over Rs 1,000 crore in 24 hours. Galaxy M13 was the bestseller, while the recently-launched Galaxy M32 Prime Edition was among consumers' top choice for Amazon's Kickstarter deals, according to the company

E-commerce channels are expected to capture 61 per cent of the overall sales, down from 66 per cent last year, according to Counterpoint Research. The smartphone retail average selling price (ASP) during the festive season will grow 12 per cent to reach its highest ever at $242, although the unit sales may decline by 9 per cent (on-year).

Mergers & Acquisitions (M&A) deals recorded 21 deals valued at $1.5 billion while deal volumes saw significant downtrend, according to Grant Thornton Bharat's 'Dealtracker Report August 2022.'

The company, which registered around 20 per cent drop in its global sales at $10.31 billion in the June quarter (Q2), said that "it is not practical to quantify" related financial effects (of India probes) "at this stage". "The management assessed the aforesaid matters related to Xiaomi India, taking into consideration opinions from professional advisors and concluded Xiaomi India has valid grounds to respond to the relevant Indian authorities," the group said in its quarterly financial statement.