Smart Phone Sales Slump Down in India
Covid-19 impact has caused a decline in various industries in India. Smart phone sales have also been severely affected.
According to a survey by Counterpoint Research, smartphone sales in India are grow of 9% on 2019. Similarly, smartphone sales are projected to grow by 12 to 14 % by 2020.
Due to covid-19 that smart phone sales in India have fallen by 15 %. It has been revealed that people are not interested in buying new phones as money is so cheap.
More recently, the GST tax on cell phones has been raised from 12 % to 18 %. It has been revealed that this is one of the reasons for the decline in smart phone sales. Smart phone sales are predicted to increase in the next few months.
The study predicts that around 700 million people will have smartphones by 2022 and over 100 Crores smartphones will be sold in India in the next five years.
Earlier, the price of smartphone models was increased due to the increase in GST tax. Xiaomi’s Redmi brand is increasing the price of its smartphones, while the price of various company models has gone up.
Last year 2019, 115 million smartphones were sold in India in the first three quarters. In 2019 Smartphone sales dominate the five foundations of Xiaomi, Samsung, Vivo, Apollo and RealMe. The price of smartphones has soared this year. Smartphones priced from Rs.5, 000 to Rs.10, 000 have now gone up from Rs.10, 000 to Rs.15, 000.