With the fast pace of transition, up to 50% of India is ready to switch their smartphone.
According to reports, the smartphone market in India is expected to grow with the launch of 5G capability, although this is the third important feature that is being considered.
Reports suggest that the INR 10,000 to INR 15,000 price bracket is the sweet spot and respondents’ future smartphone purchases may be further shifted to INR 20,000 – INR 30,000.
Samsung, Apple and OnePlus continue to be the top three brands that consumers prefer. 51% of Samsung users continue to remain loyal to the brand, while 43% are fixated on staying loyal even on their next purchase. Apple is the second most preferred brand in the country.
Research Analyst Arushi Chawla said, “Smartphones are now an important part of our lives. As a result, smartphone users try to upgrade their devices with each subsequent purchase. When buying a new smartphone, more than a third of consumers plan to keep their current device as an alternate/secondary phone. Also, with more trade-in offers available, more than a quarter of respondents plan to trade in their current smartphone when buying their next one. Hence, consumers feel comfortable buying a smartphone in a higher price bracket for a better experience and updated features.”
Chawla added, “Samsung has a strong hold on the smartphone installed base in India. It has a widespread distribution network and releases new models throughout the year for most price brands. All these factors helped Samsung develop and maintain its brand value. Therefore, in the survey, Samsung maintained its top position in terms of both previous ownership and current ownership, as well as future preference. Samsung is followed by Apple and OnePlus as the most preferred future smartphone brands. The main reasons for preferring a brand are reputation, advanced features and user interface. As a result of these factors and the drive to move to a higher price bracket when purchasing a smartphone, consumers tend to prefer premium smartphone brands. In addition, 5G capabilities are becoming increasingly important as we move up the ladder of budget preferences for future smartphones. 5G is one of the main factors being considered for all major smartphone brands. But 5G is the most important factor for respondents who prefer Apple as their next smartphone purchase.”
