Techarc mid-year review – India Smartphone Market

The 1H of 2023 (Jan-Jun) has been in line with expectations.  However, it was not expected that the sales for smartphones would go under 50 million for the period.  We estimate the smartphone sales for the period at 49 million, which is roughly 25% lower than the usual run rate.  However, in terms of revenue, we are expecting this year to close at $42 billion, up by around 18% over previous year. Trends Some of the market trends that are worth capturing from Jan 2023, which have a strong bearing…