Key Points
Mobile phone companies have reduced their production capacities by up to 20% year-on-year between January and April till now due to continued steep fall in sales in the last six months, industry executives said.. Smartphone shipments - a proxy of sales - declined by 30% year-on-year in October-December 2022 period and by 18% in January-March 2023 as compared to the same period last year, as per latest numbers from industry researcher Counterpoint..
India's largest mobile phone retailer, Reliance Retail too said sales of devices or mobile phones had lagged in the January-March quarter...
"The mobile phone industry is impacted not just in India but across the globe taking a toll on demand," said Pradeep Jain, managing director of Jaina Group, which manufactures smartphones for several companies besides retailing its own Karbonn brand..
"Companies have cut production to align to the demand scenario and this pressure is likely to continue for some time," he said.. Counterpoint's director of research Tarun Pathak said companies have cut production by 15-20%, more in the entry and mid-tier segments since the premium segment is still resilient...
But such reductions were lower at 5-10% than the current levels, industry executives said.. India's leading home grown third-party electronic manufacturer Dixon Technologies managing director Atul B Lall said mobile phone demand is not buoyant, but there is no significant decline yet as some companies are also exporting handsets from India...
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