India’s smartphone segment recorded a 5 per cent growth year over year in the third quarter, recording the highest-ever quarterly value, suggests a new report by Counterpoint.

According to data from the research firm’s Monthly India Smartphone Tracker, the market was led by value-led growth and mostly driven by festive sales and discounts. Apart from online sales, another factor driving market growth is offline campaigns, which offer easy financing and trade-in offers, which encourage phone makers to stock inventory in advance.

The report also says that the premium smartphone segment recorded a 29 per cent year-over-year growth, as consumers now prefer higher-value devices. This pushed the overall market value to increase by 18 per cent year over year, causing the average selling price (

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