Polls, heatwaves cool smartphone sales in June qtr

In the June quarter, smartphone sales in New Delhi declined by 1-2% due to heatwaves and elections, causing an inventory buildup. Samsung, OnePlus, and Apple saw reduced shipments, although June improved with discounts. Vivo and Xiaomi excelled, with Xiaomi regaining the top spot. Despite higher average selling prices, the market experienced degrowth. Analysts expect recovery in the third quarter of 2024 during the festive season through discounts and promotions. Such events are shaping consumer expectations for price cuts, impacting brand value and profit margins.