Festive Season: On An Average, Smartphones Were Sold For Rs 14,000
By: Sneha Chaudhary
- The Average Selling Price was expected to fall below Rs 11,000 during Festive Season
- Widest Portfolio of Premium Smartphones with sharp Price Drop.
Massive demand for premium smartphones, led by strong brand discounts during the ongoing e-commerce sale is expected to raise the average smartphone sales price, market trackers said.
The average sale price, which, due to the economic effect on buyers, was supposed to dip below Rs 11,000, has risen to Rs 14,000, analysts said. This is for the first time that at the outset of the festive season, the industry has seen the most extensive portfolio of luxury smartphones with sharp price cuts that went up to 60 per cent.
Tarun Pathak, Counterpoint’s Research Director, said: “The majority of sales are still in the price range of Rs 10,000-15,000, and there is also a comparatively increased selling out of high-end phones due to major discounts and promotional deals served by multiple brands,”.
Several research companies predict that the festive week of this year, marked by Amazon’s Great Indian Festival and Flipkart’s Big Billion Days, will outperform the smartphone sales of the previous year.
“The festive season revenues this year are on pace to surpass last year’s revenues,” said Amit Sharma, Analyst-Industry Intelligence Group at CyberMedia Research’s (CMR. In particular, the pent-up market demand comes from Aspirational India, including several first-time e-commerce customers, from Tier II, III cities.
He added that revenge purchasing by luxury customers is also strong, in addition to work and learning from home needs.
ET announced that market analysts Forrester Research and RedSeer Consultancy pegged Amazon and Flipkart’s combined revenue at an average of about $4.7 billion (about Rs 35,000 crore) from October 15 to 22.
Meanwhile, TechArt has pegged overall sales for smartphones in the current quarter at 41 million units, compared to 36.9 million in the same quarter last year. Out of these, 15 million will be sold by the two electronic retailers in these six days. Faisal Kawoosa, Founder and Chief Analyst at TeachArc said, “overall online sales revenue in this quarter would be 74.7 per cent”.
“CMR’s Sharma said, “niche and new brands such as LG and Asus are likely to be able to increase their market shares this quarter as online channels have a level playing field for each brand that can match the demand and supply gap”.