Live
- BJP releases ‘charge sheet’ against BJD govt
- District Nodal Officer Venkataramana announced the intermediate results
- She team that stopped child marriages
- Medical devices sector needs separate rules, says industry body AiMeD
- Andhra Paper declares lockout
- Opposition INDIA bloc working on 'one year, one PM' formula: PM Modi
- Delhi HC quashes FIR for outraging woman's modesty, orders man to assist Traffic Police for a month as settlement
- 'Apologise to families of farmers who committed suicide in Vidarbha', Amit Shah dares Sharad Pawar
- SC Collegium recommends appointment of a permanent judge in Chhattisgarh HC, extension of term of two judges
- U20 Men's football nationals: Telangana, Sikkim earn full points with easy win
Consumers shifting to low range phones
Consumers shifting to low range phones
As consumers prioritise spending on essentials amid economic uncertainties in the pandemic times, they are buying more low-to-mid range smartphones and 73 per cent of smartphone shipments in 2020 is expected to be priced below $400, according to a new report
New Delhi: As consumers prioritise spending on essentials amid economic uncertainties in the pandemic times, they are buying more low-to-mid range smartphones and 73 per cent of smartphone shipments in 2020 is expected to be priced below $400, according to a new report.
According to a new price band forecast from the IDC 'Worldwide Quarterly Mobile Phone Tracker," smartphone value is expected to decline 7.9 per cent in 2020 to $422.4 billion - down from $458.5 billion in 2019.
Overall, the low-to-mid end segment ($100 to less than $400) dominated global smartphone shipments with 60 per cent market share in the second quarter this year and is expected to grow in the short term to 63 per cent by next year.
"Rising unemployment rates and job uncertainty have influenced consumers' buying patterns towards economic and affordable products. Subsequently, the overall portfolio in smartphones is moving toward low-to-mid end devices," said Sangeetika Srivastava, senior research analyst with IDC's Worldwide Mobile Device Trackers.
"This has intensified competition as market players need to continue presenting attractive deals and bundling offers to encourage consumers to purchase a new device, especially in the higher-priced segments".
