A report from Consumer Lens – A global research program which has been launched by Counterpoint Research that aims to help the industry to understand the consumer’s perspective in a better way across various different markets channels and product categories. The latest study from the firm on the Indian mobile market which is also the worlds second largest market reveals that two out of three users in the country are inclined towards the plan of buying a mid-range or a high-end smartphone.
According to the report, the mobile users in India are increasing and most of them are on either their second or third smartphone. Since the Original Equipment Manufacturers (OEM) are looking to get the major share in the market, they have been providing advanced features even to their midranges also within six months or so from the key flagship smartphones. The firm also quotes that, this is also the reason for one in the three respondents in the survey are planning to speed Rs. 10,000 to Rs. 15,000 on the purchase of their next smartphone and as they predicted the overall ASP (average selling price) is also increasing in India.
In this price segment, Xiaomi becomes the most preferred brand for the customers for their next purchase as the target are mainly the one who is planning to upgrade to their second mobile phone. The other segment, ie the Rs. 25,000 to Rs. 40,000 rage is mostly preferred for OnePlus which is also fast growing segment as users are looking for a premium experience at an affordable price-points.
The reports also claim that this is the reason for the OMEs to become more aggressive in offering a stronger value proposition in these two price ranges. Moreover, the reports also say that four out of five users are satisfied with their current smartphone and OnePlus leads the satisfaction index and also the retention rate among the Android OEMs.
According to the report, XIaomi is the most preferred brand for future purchases and it is followed by Samsung and OnePlus respectively. Many of them are not sticking to the same brand when opting for their next purchase and this reflects the fact that in the competitive market like India there is no guarantee that the user will be sticking to the same brand and give an opportunity for all the key OEMs.
Some of the Key points to be taken from the report are
- Camera is one of the key features that the customers look for the users for their next purchase
- Two out of three users plan to buy a mid to high range phone in India
- Xiaomi is the most preferred brand for the choice of their next smartphone and the intrusion of purchasing the Xiaomi smartphone was highest from Punjab and Haryana.
- OnePlus is on the top of the list of retention with 94% and satisfaction index of 88%. The purchase intention was highest in Karnataka and Maharashtra.
- Apple was preferred by 72% as their next smartphone brand in the $600 and above segment.
- Vivo has a satisfaction index of 90% and is getting stronger in Southern India with the highest purchase from Tamil Nadu.