According to the latest research from Counterpoint, shipments of smartphones made in India increased 16% year-on-year in Q2 2022, reaching more than 44 million units, according to the latest research from Counterpoint. Oppo leads the Made in India smartphone shipments with 24% market share. Followed by Samsung. Domestic brand Lava leads the Made in India feature phone segment with a 21% market share. The wearables segment is led by TWS with 16% contribution, followed by neckbands and smartwatches.
According to a recent study by Counterpoint, smartphone shipments Made in India grow up 16% YoY in Q2 2022 to reach over 44 million units. The reason for this cited is that companies are pushing for higher output to meet the criteria of the Manufacturing Linked Incentive (PLI) program.
Made in India Smartphone Shipment get a raise up 7% year-on-year (YoY) in the first quarter of 2022. Made in India smartphone shipments reached 48 million units in the first quarter of 2022.
Talking about the local manufacturing ecosystem in India, Counterpoint Research Analyst Prachir Singh said, “Made in India smartphone shipments have increased year-on-year. During this quarter, we have seen growing investments in India’s manufacturing ecosystem with new factories being set up as well as existing ones being expanded. Recently, Oppo announced the Vihaan initiative, under which it plans to invest $60 million over the next five years to empower local supply chains. Samsung is also ramping up production with high-end smartphones, especially the Galaxy S series. Going forward, the upcoming festive season will further boost Made in India shipments due to expected local demand. will increase”.
As mentioned earlier, Oppo is leading the Made in India smartphone shipments with 24% market share, followed by Samsung. Indian technology brand Lava leads the Made in India feature phone segment with a 21% market share. The wearables segment is led by TWS with 16% contribution, followed by neckbands and smartwatches.
India is expected to see a rapidly expanding electronics manufacturing and innovation ecosystem.