HMD Global 14 percent growth in the Indian market

23. 08. 2021 Monday / By: Robert Denes / Business / Exact time: BST / Print this page

The Indian smartphone market will reach a record high of 173 million units in 2021, an increase of 14 per cent year-on-year.

The Indian phone market has shown resilience amid the pandemic and HMD Global has been among the best performing markets, the company’s chief executive said.

Sanmeet Singh Kochhar, HMD’s global vice president, said in a statement: The past two years have been challenging, but the market has shown resilience and telephone sales have accelerated since the blockade was lifted.

"... the market was buoyant in the second half of 2020. Unfortunately, we had to face the second wave again this year ... starting in June, business will be back on track and we will see a lot of buoyancy - both for phones and smartphones" - He told.

Kochhar added that the company is "very dynamic" as it gets closer to the holiday season and queues up products.

The Indian smartphone market in 2021 will reach a record high of 173 million units, an increase of 14 percent year-on-year.

India's smartphone market is the world's second largest market after China. In 2020, the Indian market outperformed the North American, Latin American and African markets.

COVID-19 saw a 4 percent decline in smartphone shipments in India to 152 million units in 2020 (up from 158 million units in 2019), demonstrating the flexibility and importance of smartphones, which play a more important role in the pandemic demand for digital communications and for newer uses.

"I would definitely say that in both 2020 and 2021... India was one of the best performing markets for us,” Kochhar said.

The executive said there are some notable trends in features that have been seen over the past few quarters.

According to Kochhar, the demands of working from home and studying, as well as the consumption of entertainment, have increased the demand for smartphones with larger screen sizes, larger batteries and increased security options.

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