Android: Counterpoint Research data indicates premium smartphone users tend to stick to their devices for 40-44 months, as compared to about 36 months for users of budget smartphones, as devices have become more durable and powerful in terms of processing.
Major Android smartphone makers like Samsung, Xiaomi, and Oppo are extending their software update support to four years of major Android updates and an additional year of security updates. This move, led by Samsung, is driven by a growing trend of longer device ownership in India s expanding premium smartphone market.
Lava: The company touched its peak market share of 8% in the smartphone segment in 2014 before being pushed to the fringes by moneyed Chinese players who captured the 4G wave. It made a comeback to the segment in 2020, but has a share of less than 1%, which it hopes to grow, backed by its affordable 5G play.
Indian smartphone brand Lava plans to invest over ₹500 crore in research and development and marketing over the next two years. With a focus on 5G-fying budget smartphones, the company aims for 100% year-on-year growth. Lava, which saw its revenue triple since its 2020 relaunch, intends to compete with Chinese rivals by enhancing R&D capabilities and brand presence, targeting a 100% growth rate for the next 3-4 years.