India's smartphone shipments drop 10% in Q3 as prices hit record -IDC - Yahoo Finance

BENGALURU (Reuters) - India's smartphone marketplace fell by 10% year-on-year past 4th to 43.5 cardinal units, marking the lowest third-quarter shipment since 2019, and a precocious inventory pile-up is expected to pb to a muted 4th quarter, marketplace probe steadfast IDC said connected Monday.

Despite the festival play opening earlier than usual, the unrelenting emergence successful prices pulled down shipments successful the world's second-biggest smartphone market, IDC said.

The mean selling terms jumped 15% year-over-year, and 6% from the erstwhile quarter, to a grounds $226, IDC said.

"The mean selling terms has grown consistently for the past 8 quarters successful a enactment owed to expanding costs and increasing 5G shipments astatine mid-premium terms points," said Upasana Joshi, probe manager, lawsuit devices, IDC.

Moreover, the inventory pile-up and post-festive tapering successful request volition pb to a muted 4th quarter, said Navkendar Singh, subordinate vice president, devices research, IDC.

IDC expects 2022 shipments of astir 150 cardinal units, a diminution of 8-9% implicit the erstwhile year, and Singh does not expect 2023 to beryllium immoderate better.

"The large challenges going into 2023 are the interaction of ostentation connected user demand, expanding instrumentality costs, and dilatory diagnostic phone-to-smartphone migration."

(Reporting by Navamya Ganesh Acharya successful Bengaluru; Editing by Savio D'Souza)