: Indian manufactured smartphones accounted for 48 million shipments in Q1 2022 #finance #StockMarketNEWS Indian manufactured smartphones accounted for 48 million shipments in Q1 2022 New Delhi, June

Indian manufactured smartphones accounted for 48 million shipments in Q1 2022 #finance #StockMarketNEWS
Indian manufactured smartphones accounted for 48 million shipments in Q1 2022 New Delhi, June 17 (KNN) Posting a growth of 7 per cent on year, Indian manufactured smartphones have accounted for 48 million shipments in Q1 2022 counting exports.

This has indicated resilience in domestic manufacturing during global component shortages, as per a report by Counterpoint Research.

In the same period due to falling demand for the past few quarters the manufacturing of feature phones declined by 41 per cent on year.

Commenting on the local manufacturing ecosystem, Senior Research Analyst Prachir Singh said, “In 2021, the shipments of ‘Made in India’ smartphones crossed 190 million units. The increasing smartphone demand in India as well as increasing smartphone demand in India as well as increasing exports are the major reasons for the continued growth.”

Among the smartphone brands, Oppo had the highest 21.6 per cent share of locally-manufactured smartphones with Realme and OnePlus included, closely followed by Samsung with 21.3 per cent market share, and Vivo with 11.7 per cent market share.

Samsung is the only the part of the governments production linked incentive (PLI) scheme for smartphone manufacturing.

The report states the local handset manufacturing in India will further increase by 4 per cent in 2022. (KNN Bureau)