The American MNC: Qualcomm, famous for manufacturing wireless telecommunication products and semiconductors, is all set to make a mark and work towards reducing the cost of 5G smartphones in order to attract new customers. Qualcomm has tied hands with Original Equipment Manufacturers(OEMs) to reduce the cost of 5G smartphones to around $90 (Approx. Rs. 70,000-80,000).
The company also plans on adding considerable features to increase the reach of these smartphones. To capture the growing inclination towards 5G smartphones in 2023, the company is all set to make a move in the same direction. According to research by CounterPoint, 5G smartphones’ contribution to the overall smartphone shipment has reached 43%. The research also shows that the share of 5G smartphones in lower price ranges has increased from 4% in 2021 to 14% in 2022, which is expected to reach 30% by the end of 2023.
To capture this market, the company has tied up with OEMs and has reduced the price of 5G chipsets, while the OEMs have compromised with a few quality features to bring about low-cost 5G smartphones.
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The president of Qualcomm India & SAARC, Rajen Vagadia, commented, “Consumers targeting these segments are awaiting availability of affordable 5G smartphones. Our road map will enable OEMs to design products in these segments, and we expect 5G handsets to breach the Rs 10,000 and below price points,”
What are your views on this move by Qualcomm to enter the low-cost smartphone market? Let us know about this in the comments!
