According to the latest report released by the market research firm Counterpoint Research, the total smartphone shipments in India in 2023 reached 152 million units, remaining unchanged from 2022.
The first half of 2023 saw numerous challenges in the smartphone market due to subdued demand and inventory build-up caused by macroeconomic turbulence. However, the market started to recover in the second half of 2023, driven by the surge in 5G upgrades and e-commerce promotions.
Samsung led the market with an 18% share in 2023, benefiting from the strong performance of the Galaxy A series, proactive offline marketing, and a focused strategy in the high-end market.
With a 17% market share, vivo focused on the CMF (color, material, finish) and launched the V29 model offline and the T series online, leading the mid-range high-end market segment, placing second after Samsung.
Although Xiaomi slipped to the third position in 2023, its strategic introduction of 5G phones in the affordable market segment, offline expansion, and a more streamlined product portfolio helped it reclaim the top position in the fourth quarter of 2023.
The high-end market (above 30,000 Indian Rupees, approximately 2592 Chinese Yuan) witnessed a 64% year-on-year growth in 2023, primarily driven by convenient financing plans, leading consumers to skip price segments and purchase higher-priced smartphones.
In 2023, one in every three smartphones was purchased through financing, with Apple’s emphasis on the Indian market further driving this trend. Strong demand for the latest and previous iPhone models propelled the brand’s shipments to surpass 10 million units for the first time, maintaining its position as the revenue leader for consecutive years.
Driven by offline expansion and an improved product portfolio in the mid-range high-end market segment (30,000-45,000 Indian Rupees, approximately 2592 – 3888 Chinese Yuan), OnePlus achieved a 33% year-on-year growth in the Indian market in 2023.
Transsion’s brand, Transsion, benefited from a hybrid channel strategy, a focus on bringing high-end features to the affordable market, and a strong influence in tier two and three cities, achieving a 31% year-on-year growth. Infinix became the first brand to introduce 8GB RAM and OLED technology in the market below 10,000 Indian Rupees (approximately $120).
Source: IT Home