Indian Premium Smartphone Market Sees Rapid Growth

The market in India for premium smartphones saw a compound annual growth rate of slightly more than 50% in 2021-2023, ResearchAndMarkets.com reported Tuesday. Premium smartphones were defined as devices costing more than $350. “The swift expansion of the premium smartphone market is driven by increasing disposable income, urbanization, and a change in consumer preferences in favor of upgrading to high-end devices for better performance, advanced features, and superior user experiences,” the report said.