Budget Smartphones Disappearing By 2030

Times of India · business

The global market for smartphones under Rs 20,000 is set to shrink significantly, with a report predicting a 40% decline in shipments by 2030. This contraction is attributed to rising component costs, increased hardware requirements, and manufacturers scaling back unprofitable segments. Consumers are responding by delaying upgrades or opting for refurbished devices. The diminishing availability of affordable new phones could hinder first-time users in lower-income markets from accessing the internet and digital services.