A report has said that about 50 percent of smartphone users in India plan to buy a new device within the next year 5G rollout begins.
India has more than 500 million smartphone users to date.
According to Counterpoint Researchthe price band of Rs 20,000–Rs 30,000 is the most preferred price band for future smartphone purchases in the country.
India’s smartphone market ASP (average selling price) is expected to rise because consumers tend to prefer a higher price band for every subsequent purchase.
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The report noted that Samsung, appleetc OnePlus are at the top as the survey respondents’ preferred smartphone brands for the next purchase.
In terms of features, 5G capability is the third most important feature considered when planning the next purchase. The same factor is ranked tenth in terms of importance for current smartphone purchases.
“When purchasing a new smartphone, more than one-third of the users plan to retain their current device as an alternative or secondary phone. Also, with more exchange offers available, more than one-fourth of the respondents plan to trade in their current smartphone when purchasing the next one,” said the research analyst Arushi Chawla.
Samsung users have the strongest brand loyalty with 51 percent of the users who used Samsung as their previous device also using Samsung currently.
Apple, despite having a smaller share in previous and current smartphone purchases, is the second most preferred brand (20 percent) for future purchases, said the report.
“In addition, 5G capability becomes more important as we move up the ladder for budget preference for future smartphones. 5G is one of the main factors taken into consideration for all major smartphone brands. But 5G is the most important factor for respondents preferring Apple as their next smartphone purchase,” he said Chawla.
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