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Online smartphone sales to cross $1 bn in festive sale: Counterpoint

Press Trust of India  |  New Delhi 

sales by like Flipkart, and Mall are likely to cross USD 1 billion in the next five days, driven by exclusive launches, price cuts and exchange offers, research firm said Tuesday.

The sales are likely to hit record numbers both in terms of volume and value with accounting for 42 per cent of the total sales, said in a report.

The five days of sale (October 10-15) is likely to surpass last year's entire sales during Black Friday in the US (a large scale shopping event), it added.

"We believe, the will remain one of the attractive channels growing in preference for consumers as well as brand even though offline channel still occupies a larger pie of the overall market. If we compare some of the leading sale events in and USA such as Singles' day and Black Friday, is quickly catching up in scale with respect to these annual events," Research Associate Director said.

He added that this year it is estimated \that worth over USD 1 billion are likely to be sold in the next five days.

This growth is mainly expected to be driven by the multitude of new smartphone launches across different price points in the this year as compared to last year.

The report said the contribution of Chinese brands to total is estimated to cross 70 per cent mark this time. Also, the average selling price of in the is likely to grow by 18 per cent year-on-year during the festive period.

Besides, online as a medium is likely to be more popular for (Rs 10,000-Rs 15,000).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 22:20 IST