About 50 per cent of smartphone users in India plan to buy a new device within the first year as 5G roll-out begins, a report has said.
India has more than 500 million smartphone users to date.
The price band of Rs 20,000-Rs 30,000 is the most preferred price band for the future smartphone purchases in the country, according to Counterpoint Research.
India’s smartphone market ASP (average selling price) is expected to rise because consumers tend to prefer a higher price band for every subsequent purchase.
Samsung, Apple and OnePlus are at the top as the survey respondents preferred smartphone brands for the next purchase, the report noted.
In terms of features, 5G capability is the third most important feature considered when planning the next purchase. The same factor is ranked tenth in terms of importance for current smartphone purchases.
“When purchasing a new smartphone, more than one-third of the users plan to retain their current device as an alternative/secondary phone. Also, with more exchange offers available, more than one-fourth of the respondents plan to trade in their current smartphone when purchasing the next one,” said research analyst Arushi Chawla.
Samsung users have the strongest brand loyalty with 51 per cent of the users who used Samsung as their previous device also using Samsung currently.
Apple, despite having a smaller share in previous and current smartphone purchases, is the second most preferred brand (20 per cent) for future purchases, said the report.
“In addition, 5G capability becomes more important as we move up the ladder for budget preference for future smartphones. 5G is one of the main factors taken into consideration for all major smartphone brands. But 5G is the most important factor for respondents preferring Apple as their next smartphone purchase,” said Chawla.