Smartphone shipments in India are expected to drop by 10-15% year-on-year in 1Q23 due to brands focusing on clearing inventory instead of high demand, according to Counterpoint Research. Smartphone sales were 19% in January due to online purchases for Republic Day, but fell 12% in February. Sales for premium smartphones, however, were sustained due to new launches and discounts. Channel partners struggled to accept large quantities of shipments due to low turnover rates consequently leading to a slower inventory movement in Q1.
