3Q22: 8% YoY Fall in ‘Made in India’ Smartphone Shipments

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  • Local Demand Drop Led to Fall in ‘Made in India’ Smartphone Shipments
  • Increasing local value addition and exports have been the main focus points of the government under the ‘Make in India’ scheme: Report

Going by recent research from Counterpoint’s Made in India service, the Made-in-India smartphone shipments dropped 8% YoY in the July-September quarter (Q3) of 2022 to reach over 52 million units. Even as the shipments were on an upward trail earlier this year, declining consumer demand and global market uncertainties led to this decline in 3Q22. The report noted that OPPO led these smartphone shipments with a 24% share, followed by Samsung. However, in terms of smartphone shipments, Bharat FIH kept the top spot in the EMS domain. Among Indian players, Dixon emerged as the top smartphone EMS provider, stated Counterpoint.

It must be noted that while OPPO manufactures smartphones for OPPO, realme and OnePlus, Bharat FIH manufactures smartphones for Xiaomi. Moreover, Dixon Technologies manufactures smartphones for Samsung, and Dixon’s share does not include Padget Electronics.

Counterpoint’s Senior Research Analyst Prachir Singh pointed out, “The Made in India smartphone shipments declined in Q3 2022 as compared to Q3 2021. Two major forces impacted the growth of such smartphone shipments. First, the decline in consumer demand, especially in the entry-level segment, due to the negative macroeconomic indicators. Second, the high channel inventory at the start of the quarter also impacted manufacturing during the quarter. The country’s smartphone manufacturing ecosystem continues to grow with almost 63% of such shipments coming from in-house manufacturers and 37% from third-party EMS players.

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OPPO led the Made in India smartphone shipments in Q3 with a 24% share, followed by Samsung and Vivo. BYD and Lava were the fastest-growing manufacturers in terms of smartphone shipments. Further, we will continue to see PLI disbursements in subsequent quarters, which will add to the local manufacturing landscape. Overall, the manufacturing trend is witnessing an upward trajectory with multiple partnerships happening in recent months, like the ones between Tata Group and Wistron and between Foxconn and Vedanta.”

Counterpoint’s Research Analyst Priya Joseph said, “On the regulatory front, despite the adverse global climate, the Indian smartphone market has remained resilient. The government’s efforts to bring about a supply chain shift and make India a manufacturing hub with constant policy interventions in the form of PLI schemes has helped the country to attract major global players across the value chain. Further, the government is actively pursuing the target of expanding the local value addition from the present 17-18% to 25% in the near future.”

The report hopes the upcoming manufacturing volumes to grow with OEMs’ focus to increase export to other countries.

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry.


 

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