Smartphone growth outlook for 2021
It is expected that due to the lockdown period, smartphone shipment volume will be slow. However, the impact is expected to be reduced for the upcoming quarters (1Q 2021, 2Q 2021, 3Q 2021, and 4Q 2021). The global smartphone shipment volume will also start increasing gradually after 1Q 2021. At the same time, in order to maintain the smartphone market share, Xiaomi will continue to increase its share globally and also introduce new products in the market.
Mobile phones and tablets are the most preferred devices for video calling in India. According to Counterpoint Research, in the past, a user would switch from one device to another device to perform a call. In India, with the help of smartphone or tablet, calls were more convenient, and people would not switch between devices. However, due to Covid-19, a large number of people have switched from personal devices to phone call via public Wi-Fi hotspots.
The report titled 'India Mobile Forecast 2021: High Consumption, Lower Demand' by Counterpoint Research, highlights the mobile growth outlook in India. The first quarter of 2021 will be the strongest quarter for mobile growth in the country. According to a recent research report by CLSA, the smartphone shipment volume will double from the last three years.
Global mobile phone market forecast for 2021 (image credit: Counterpoint Research)
With the emergence of smartphones in the Indian market, there has been a huge increase in the smartphone market share. According to the report by Clima, in Q1 of 2017, smartphones held the market share of 47.7% in India, which is expected to grow to 64.7% by the end of 2021. With an increase in smartphone usage, the market share of low-end smartphones is expected to increase as well. According to the report by Counterpoint Research, the mobile Internet and smart device market share is expected to increase from the previous year.
It is reported that, due to the global Covid-19 crisis, people across the world are switching to using public Wi-Fi hotspots to call and connect with their friends and families. The report titled 'Mobile Forecast 2020: Growth will be Challenging' by Strategy Analytics, mentions that Covid-19 has brought a lot of changes to the market, making the 2021 smartphones growth to look challenging. According to the report, the global mobile phone shipments will grow by 13.5% in 2021, as compared to 14.5% growth in 2019.
One thing common with India and globally is that Covid-19 will reduce the demand of smartphones. It is also projected that smartphones penetration in India will decrease in 2021, as it did in 2019, which is around 40% in 2021, as compared to 50% in 2019. By 2021, the market share of smartphones is expected to increase by nearly 27% in India, as compared to an increase of 4% by 2019. Due to this shift, some smartphone makers like Micromax, Karbonn, and Lava are likely to announce price cut or discounts, in order to meet the customer demand. However, Xiaomi, the most valued smartphone brand in the country, has shown no inclination to cut the prices of its products. It has always focused on giving quality products at reasonable prices.
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