Boom time for rigid boxes as smartphone shipments set to rise

The study by Counterpoint Research added that India’s smartphone shipments are expected to decline in 2022 due to a range of macroeconomic factors that are affecting consumer demand in the entry and budget segments. However, 5G technology is expected to drive demand for smartphones in 2023. 

In fact, India’s 5G smartphone shipments are estimated to grow 81% year-over-year in 2022, due to the expanding presence of 5G connectivity in lower price bands and the rollout of 5G networks in the second half of the year.

Meanwhile, according to a report by Future Markets Insights, the global rigid box market is estimated to project growth at the GAGR of 5-6% during the forecast period of 2022-23. 

The Counterpoint study also found that 5G is the third most important factor for future smartphone purchases.

According to another report by CyberMedia Research (CMR), 5G smartphones in India are expected to see a shipment growth of 70% annually. The growth in shipment of 5G smartphones is expected to happen in 2023 as a result of the greater proliferation of 5G devices, buoyed by mainstream smartphone chips featuring 5G modems, and increasing coverage of 5G connectivity from telecom operators in India. 

Samsung took the number one spot in Q4 2022 for the first time since Q3 2017, shipping 6.7 million units for a market share of 21%. After 20 quarters, Xiaomi lost its leadership position in Q4 2022 and fell to third place with shipments of 5.5 million units. However, for the full year, Xiaomi was still the number one vendor.

(Courtesy: Agencies)