Technology Update from CNMO

CNMO has observed a remarkable growth trend in the Indian smartphone market in the fourth quarter of 2023. According to a report from TechInsights, smartphone shipments in India increased by 28% year-on-year, reaching a total of 38.2 million units. This growth rate set a new record in India’s history, highlighting the strong demand and potential for continued growth in the Indian market for smartphones.

Several factors have driven this growth trend. Firstly, the holiday season played a significant role in driving the smartphone market. During festive periods, consumers typically have higher shopping needs and purchasing power, leading to an increase in smartphone sales. Secondly, the rapid development of 5G technology has brought new growth opportunities to the Indian smartphone market. With the expansion of 5G networks and the introduction of 5G smartphones, consumer demand for high-speed, low-latency network experiences is increasing, further fueling the prosperity of the smartphone market.

In terms of market share, in the fourth quarter of 2023, Xiaomi, vivo, and Samsung respectively held the top three positions in the Indian smartphone market. Xiaomi accounted for 18.8% of the market share, vivo had 17.8%, and Samsung held 16.2%. These brands have gained widespread recognition and trust from consumers due to their excellent product performance, innovative technology, and deep market presence. In addition, domestic smartphone manufacturers such as OPPO, realme, and Transsion have also performed exceptionally well in the Indian market.