Made in India smartphone shipments declined 8 percent in Q3 2022 to over 52 million units, according to the latest research from Counterpoint.
Economic headwinds that led to a decline in consumer demand, and market uncertainties due to geopolitics were the prime reasons for the contraction in Made in India smartphone business.
The country’s smartphone manufacturing ecosystem continues to grow with almost 63 percent of such shipments coming from in-house manufacturers and 37 percent from third-party EMS players, Senior Research Analyst Prachir Singh said.
OPPO led the Made in India smartphone shipments in Q3 with 24 percent share, followed by Samsung and vivo.
“We will see PLI disbursements in subsequent quarters, which will add to the local manufacturing. 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,” Prachir Singh said.
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. India is pursuing the target of expanding the local value addition from 17-18 percent to 25 percent, Research Analyst Priya Joseph said.
