New Delhi, April 3 -- Preliminary estimates from the Indian Cellular and Electronics Association (ICEA) suggest a soaring value of Rs.4.1 lakh crore ($49.16 billion) in value of mobile devices produced in India, as per a Business Standard report. This marks a 17 percent year-on-year (YoY) increase.

Notably, despite stagnant domestic sales volume, the value of mobile exports remains high, it said. Smartphone sales remained relatively steady at 145-150 million units in FY24, although there was a slight uptick in the last quarter.

The production value for the domestic market is expected to have grown by 11 percent, from Rs.2.6 lakh crore in FY23 to Rs.2.9 lakh crore in FY24.

Experts attribute the increase in average sale price to consumer...