Almost half of the premium phone users in India are interested in spending Rs 40,000 or more when they are buying their next smartphone, according to Counterpoint Research’s findings. One in every five respondents is interested in spending more than Rs 60,000 and around 8% of these respondents are ready to shell out over Rs 80,000 for their next premium smartphone. It’s quite clear that there is a great market for premium phones and users are willing to pay for the latest devices - provided they get what they want.
Be it facial recognition or multiple rear cameras or AI, smartphone makers are putting in all their might to find that one feature that can get users interested in getting their hands on the latest smartphone. Premium smartphones users in India seem to be clear on the features they are willing to pay for.
Of all the interesting and some wacky features that smartphone makers dole out, the feature that tops the list of what users are ready to spend on is ‘Dust and Water Resistance’. Almost 60% of premium phone users are ready to pay a premium for this feature. It’s only practical that you want a sturdy phone considering you are spending a huge premium on it. Users are also looking for safety features on their high-end devices. Over 40% of premium phone users are willing to pay for in-display Fingerprint on their smartphones and 39% users are willing to shell out extra money for facial recognition. The camera is one of the most talked about feature on a smartphone, premium or otherwise. Smartphone makers have probably put in the most amount of effort to one up one another in the race to build the best smartphone camera. Even then, it does not seem to be on the top of the list for the users as 37% premium phone users are ready to spend more for smartphone cameras like powerful dual or triple rear cameras and punch hole cameras seems to be even less popular.
The newest feature that has the industry talking is the Foldable Display. Even after the Samsung Fold debacle, many players like Huawei, Motorola, LG and others have all jumped in to build a foldable display smartphone. But premium smartphone users in India are still warming up to the idea of a foldable display, given the premium pricing and practicality of the device. Only a little over 20% premium phone users in India are willing to pay for a Foldable Display smartphone. Tarun Pathak, Associate Director at Counterpoint Research says, “In-display fingerprint, facial recognition, dual or more cameras, and AI capabilities came up as key features, where almost four out of every ten respondents thought that these are a ‘must have’ in their future premium smartphones. Longer battery life along with fast charging, higher memory storage, new designs, and multiple cameras are the other key features which will influence future purchase decisions. Punch hole displays and foldable displays are yet to make any significant impact on consumers minds in India.”
Premium smartphone users in India are only willing to pay a premium for the features that ups the durability and practicality of the smartphone.