According to a recent Counterpoint research, Made in India’s smartphone shipment grew 16 percent YoY in Q2 2022 to reach over 44 million units. The reason for this was cited to be that the companies are pushing for higher output to meet the criteria of the Production Linked Incentive (PLI) schemes.
Made in India smartphone shipments were up by 7 percent year-on-year (YoY) in the first quarter of 2022. The Made in India smartphone shipments hit 48 million units in Q1 2022.
Talking about the local manufacturing ecosystem in India, Counterpoint Research Analyst Prachir Singh said, “The Made in India smartphone shipments grew as compared to last year. During the quarter, we witnessed increasing investments in the Indian manufacturing ecosystem with new plants being set up as well as existing ones being expanded. Recently, Oppo announced the Vihaan initiative under which it plans to invest $60 million in the next five years to empower the local supply chain. Samsung also increased its manufacturing with the premium segment smartphones, especially the Galaxy S series. Going forward, the upcoming festive season will further drive the Made in India shipments due to the expected increase in local demand.”
As mentioned earlier, Oppo is leading the Made in India smartphone shipments with a 24 percent share that is followed by Samsung. Indian tech brand Lava led the Made in India feature phone segment with a 21 percent share. The wearables segment was led by TWS with a 16 percent contribution followed by neckbands and smartwatches.
India is expected to witness a rapidly expanding electronics manufacturing and innovation ecosystem.