Mobile Phones Priced Rs 10,000-20,000 Dominate Indian Market: Infinix India CEO
Demand for 5G-enabled handset has increased in the recent past, said Anish Kapoor.
Mobile phones priced in the range of Rs 10,000-20,000 dominate the country's smartphone industry, constituting over 40% of the total market size, according to Infinix India Chief Executive Officer Anish Kapoor.
Kapoor said the demand for 5G-enabled handset has increased in the recent past and devices priced between Rs 10,000 and Rs 20,000 see higher demand as compared to those priced below Rs 10,000 that used to dominate the market earlier.
The stagnancy, which was in the market for the past two years, has changed, and the market has once again started to grow back, said Kapoor who was in Lucknow on Thursday for the launch of the company's latest smartphone Note 40X 5G.
"Earlier the phones which were priced under Rs 10,000 used to dominate the market in India, and it was around 35% to 40%. Now, the major market has gone to the mobile phones priced in the range Rs 10,000 to Rs 20,000 now, which is close to 43%," Kapoor told PTI.
He attributed the new trend to users' preference towards upgraded features and the latest technology.
"We are also seeing that after the advent of the 5G technology, everybody wants a 5G phone. The demand for 5G technology has gone up. Right now 5G phones start at Rs 10,000 to Rs 11,000," Kapoor said.
About his company's performance in the local market, the Infinix India CEO said, "Uttar Pradesh is one of the biggest markets for us both online and offline, and the response has been phenomenal for us as a brand."
He said the company has been trying to create "breakthrough products and premium features at more affordable segments, and that's what we are known as a brand."
