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E-comm giants likely to capture 61% sales, season begins Sept 23
#SAN FRANCISCO
India is likely to witness record sales of smartphones this festive season, at around $7.7 billion (over `61,000 crore), and 1 out of every 3 smartphones sold during the festive season will be 5G enabled, a report showed on Tuesday.
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).
India’s smartphone market is entering this festive season with the highest ever channel inventory of over 10 weeks, the report noted.
“The festive season has been the highlight of India’s smartphone market where almost 20 per cent of the annual sales happen over four-five weeks. Hence, this festive period is important for all the players in the value chain,” said senior analyst Prachir Singh.
This year, the sales will start on September 23 with Amazon’s Great India Festival and Flipkart’s Big Billion Days.
“According to our forecast, the festive season smartphone sales will account for around $7.7 billion, the highest ever. However, we estimate a 9 per cent YoY decline in terms of shipments. We have seen a similar trend in China’s 618 festival this year, where shipments declined 10 per cent YoY,” Singh noted.
The festive shopping season will end with the Diwali sale.
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