Market research firm Counterpoint Research has surveyed Indians aged 16 to 25 to identify the key factors they consider when purchasing a smartphone. The results indicate that "value for money" and "latest technology" are the top priorities, with 25% and 18% of respondents selecting these factors, respectively.
Realme's Popularity Among Youth
The survey also shows that Chinese smartphone manufacturer realme is the most favored brand among young Indians. In the 18-25 age group, 58% of respondents chose realme. The brand is popular for providing the latest technology, good value for money, and stylish design, particularly in the sub-INR 20,000 price range. For comparison, Xiaomi and vivo follow closely, with 54% and 53% of the votes, respectively.
Importance of Value and Technology
A significant portion, one-fourth, of the respondents consider "value for money" the most crucial factor in their purchase decisions. This is closely followed by the preference for the latest technology in smartphones.
Senior Analyst Arushi Chawla commented on the findings, noting that the younger generation shows a strong enthusiasm for smartphone purchases. Chawla highlighted that the latest technology, value-for-money deals, and stylish design are the primary factors influencing the youth's smartphone choices. It's also revealed that nearly 60% of the smartphone market in India falls within the sub-INR 20,000 price range.
Market Rankings
In February, another market research firm, IDC, released its report on the Indian smartphone market for 2023. The report indicated that despite a significant decline in market share in Q3 of the previous year, realme still ranked third in the country with a 12.5% market share.
