INTRODUCTION INDIA GOES PREMIUM

Technology cannot stand still.

Its characteristic ability to disrupt and transform itself is exactly what makes it synonymous with innovation.

However, despite being led by innovations like 5G, AI camera, etc., the global smartphone market saw a short-term slowdown in 2022* when shipments fell by 12% to 1.19 billion units [1]. This was the largest drop in nearly a decade.

The Indian sub-continent bore the brunt of it by experiencing a 9% year-on-year drop in shipments [2]. Experts attribute this to various factors, including geopolitical conflicts, a spike in inflation rates, and a fall in entry-level and budget segments, which witnessed lower demand throughout the year [2].