A well-analyzed report from GFK states that there has been a rise in the premium segments of smartphones. Moreover, there is a massive craze for 5G-enabled smartphones among the masses. The report further also stated that this growth was majorly seen during the festive season. During the consumers’ inflating disposable income and augmenting premiumization of the devices the growth can be manifold in the coming future, one can vouch for it as the world is seeing the propelling use of smartphones and users can barely keep their eyes off of it.
The exacts of the reports will surprise us to the spin, in a good way! As we can discover from the report that how much there has been a demand for smartphones and the population has mindfully used the festive season and the deals associated with it to their advantage and purchased a good deal during that period. Moreover, there has been the case that people are going for premium handsets that are eligible for 5G connectivity, maybe it is the frenzy of fascination talking. While stating the stats from the recent report Head of Market Intelligence, India at GfK, Anant Jain stated that “The premium smartphone segment during the festival period (the Rs 40,000-plus segment) grew by 60 percent. Overall smartphone revenues grew by 38 percent, with the 6-6.5″ screen size contributing 54 percent by value and growing by 41 percent during Navratri and Dussehra versus Shradh season this year,”
The festive season noted growth in smartphone demand
According to the report, if comparing the two weeks of shraddh and the nest as many weeks of Navratri and Dussehra there was a increasing demand for premium smartphones during the later season. Moreover, other segments of smartphones also grew faster amidst the Dhanteras and Diwali festive purchases.
The report calculated the comparison between the demand for smartphones with 5G compatibility during the Shradh period along with the Navratri and Dussehra. “Smartphone sales were up 40 percent during Navratri and Dussehra, over the Shradh period. The premium segment and 5G-enabled devices drove most of this growth.”
Digging deep into the statistics to infer the growing demand for 5G enabled devices. The figures in the report show a 51% total increase in the device. This includes a 48 percent increase in the 5G device during Navratri and Dussehra. This must be noted that the demand for these devices last year (2021) around the festival period was 24%. Moving forward to analyzing the sales percentage of 5G enabled devices amidst the Dhanteras and Diwali weeks, users have again created a hype of 41 percent in comparison to the Navratri and Dussehra period.
Other segments that interested the buyers
Masses were also found searching for smartphone segments that come below Rs. 15000. This year this segment of smartphones found a propelling demand by 50 percent that added 24 percent to the overall smartphone universe.
Additionally, the demand for 4G enabled devices were still booming and saw sales percentage up by 48% during Dhanteras and Diwali. When comparing the 4G device sales with the 32 percent hike in the sales of 5G enabled devices, it mentions the intentions of manufacturers of clearing up the space of 4G devices via some clever schemes.
Conclusion
Have a look at the report by GFK that states that the Premium segment and 5G-enabled smartphones drove the majority of growth this festive season.