With the successful conclusion of the 5G spectrum auctions on August 1, 2022, smartphone companies are looking forward to heydays, again. The smartphone industry has been plagued by multiple issues such as component shortages, inflation, increasing competition in the entry-level segment and inventory issues. However, with the availability of the 5G network, the industry looks bullish and by the end of 2022 there will be a surge in demand for 5G smartphones. “By the end of 2022, 5G smartphones will account for 35 per cent of the total smartphone shipments in India. This is expected to increase to 53 per cent by the end of 2023. Since the availability of the network is now anticipated by October 2022, we can expect a surge in demand for 5G smartphones during the festive season. OEMs will also focus on multiple 5G launches during that time,” said Charu Paliwal, research analyst at Counterpoint Research.
HOW ARE COMPANIES GEARING UP?
At the forefront of bringing in new technologies, companies have put together a detailed strategy to bring more 5G products and to democratize the new network in India. Realme launched 5G smartphone in India, back in 2020 and has already become the fastest-growing 5G smartphone brand this year. “Realme remained the fastest growing among the top five OEMs with 23 per cent year-on-year growth,” said a report by Counterpoint Research.
This story is from the September 2022 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2022 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
IS YOUR RENT TOO DAMN HIGH?
Many small business owners struggle with their rents. Here's what to do.
HOW TO BOUNCE BACK FROM A BAD REVIEW
A one-star review can hurt your ego - and your business. But it's possible to prevent (and remedy!) this scary scenario.
HOW TO HIRE FOR THE FUTURE
Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
You Can Hire Like Netflix
The streaming platform built an incredible team with a strategy called “talent density.” But you don’t need to be a tech giant to do it.
Speedy Growth Killed My Startup
We seemed to be rocking it - lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three Pivots to $100 Million
How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market.
What Goals Actually Matter?
Some benchmarks are more important than others so what should you really care about? We asked six founders for their hardest-won lessons.
'Only the Strongest Are Going to Survive'
Brian Lee cofounded companies like LegalZoom and ShoeDazzle-and he believes a lot of conventional business wisdom is backward. Sure, it's harder to raise capital. But it's actually cheaper than ever to start a company.
HOW TRUST SAVED KFC
The former CEO of Yum! Brands explains how he turned around a struggling KFC-and the important lesson it offers for anyone in franchising.
