55% Indians Willing To Spend INR 10-20K On Their Next Smartphone
Today’s smartphone user is opting for mid-tier smartphones over affordable or premium ones because the latter offers better value for money, an Industry Paper on Smartphone Features by the country’s largest digital products company, Times Internet found out. The study was conducted in-house with responses obtained through primary research conducted on Times Internet platforms.
The whitepaper states that nearly 55% are willing to spend between INR 10-20K on their next smartphone. This shift has led brands such as Samsung, Huawei, Xiaomi, OPPO and Vivo to strengthen their entry-level and mid-tier portfolios, and helped Huawei, Samsung and OPPO post substantial growth in the third quarter of 2019.
“India is one of those unique geographies where the average user skipped the personal computer revolution and adopted smartphones. Our study determines that while her/his expectations got more refined, price sensitivity hasn’t changed. This has pushed the market to be competitive and value-focussed” Vivek Pandey, VP - Revenue Strategy & Analytics, Times Internet commented.
What are the factors that affect consumer decision and to what degree? How do the critical points in user journey look like? What is the lifecycle of a smartphone? And how can companies best leverage these insights with a partner like Times Internet? Here is the full report that answers all these questions: