The latest report from market research company Canalys shows that India’s smartphone shipments fell by 3% annually from July to September 2023 (the third quarter). Despite the decline, Samsung still leads the smartphone market with 7.9 million units shipped and 18% market share. The Korean company launched the Galaxy S23 series earlier this year, and the flagship phone has clearly helped it expand its market share. Xiaomi followed in second place, followed by other Chinese smartphone brands, including Vivo, Realme and Oppo, completing the top five. Improving sales and consumer sentiment due to the upcoming festive season are expected to lead to positive growth in the coming months.
Analyst firm Canalys said in its latest report Report Indian smartphone shipments are expected to be 43 million units in the third quarter of 2023. This figure represents a 3% annual decrease in shipments.
Continuing its past trend, Samsung held a major share of smartphone shipments in India and maintained its lead in the third quarter with 18% market share and 7.9 million units shipped. Xiaomi jumped to second place with shipments of 7.6 million units. The Chinese brand captured 21% of the market, mainly due to the launch of its affordable 5G models. Vivo ranked third with 7.2 million units shipped, with a market share of 16%. BBK’s other subsidiaries Realme and Oppo ranked fourth and fifth respectively. Realme shipped 5.8 million units, with a market share of 14%; Oppo shipped 4.4 million units, with a market share of 12%.
Canalys noted that brands promoting their festive product lineups are focusing on the affordable 5G smartphone segment. Xiaomi has expanded its 5G product portfolio with the launch of affordable models such as the Redmi 12 5G and Poco M6 Pro 5G, boosting the growth of its 5G product lineup. Realme has also gained traction in the market with its Realme 11x 5G and Realme 11 5G models. Brands such as Motorola, Infinix and Tecno also drove limited sales with their new affordable 5G devices.
According to the report, the high-end smartphone market also experienced strong growth in the quarter that just ended. Sales of Samsung’s Galaxy S23 series and Apple’s iPhone 14 and iPhone 13 series surged during the holiday sales, driven by online promotions.
Canalys observed that increasing consumer confidence and the launch of new mobile phones may help the market gradually recover. “While consumer confidence strengthens in the second half of the year, the path to recovery will still be challenged by global economic concerns,” said Sanyam Chaurasia, senior analyst at Canalys. “Growth in 2024 depends on uncertain macroeconomic factors, especially those affecting fragile economies. of the entry-level segment. However, the Indian economy remains relatively resilient to sudden shocks to these variables and brands are adapting to the market dynamics. To sustain market share, vendors should prioritize reducing channel pressure and building a lean product portfolio. They should There are ‘hero models’ in every price segment while maintaining inventory balance across channels,” he added.
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