Apple, OnePlus, Samsung smartphones may beat phones from Xiaomi, Honor, and Realme this festive season.
Budget smartphones have always been a hit in the market offering great features at an affordable rate. But, a recent survey reveal has shown that slowly and steadily consumers are moving towards the premium market segment.
Online Shopping websites have cited that The premium (smartphone) segment is expected to grow more than the overall market, which is growing at 15%, There are more choices in the category this time, and nine out of 10 smartphones in the premium segment already have affordability offers such as EMI, cashbacks and phone exchanges.
Shopping sites have also started providing discount and cashback offers on premium devices such as Apple iPhone X as it brings in more gross profit for them. Analysts also expect more phones to be sold in the Rs 10,000-15,000 range during this year’s events. Last year, a majority of the smartphones sold on these platforms were priced under Rs 10,000.
Although budget brands such as Xiaomi, Honor, Realme, and Lenovo are trying their best to capture the market. It’ll be interesting to see whether the premium segment takes over the budget segment or vice-versa.