A new report from market research firm Canalys shows that smartphone shipments in India declined by 3 percent year-on-year (YoY) for the July-September period (Q3) in 2023. Despite the decline, SAMSUNG It remained the smartphone market leader with 7.9 million shipments and 18 percent market share. South Korean company launched it Galaxy S23 The series and flagship phones launched earlier this year have obviously helped it increase its market share. Xiaomi is in second place, followed by other Chinese smartphone brands including Vivo, Realme and Oppo in the top five spots. The upcoming festive sales and improvement in consumer confidence are expected to drive positive growth in the coming months.
Analyst firm Canalys said in its latest report 43 million smartphones shipped in India in Q3 2023. The figure represents a 3 percent decline in shipments year-on-year.
Following previous trends, Samsung gained a larger share in India’s smartphone shipments and maintained its top position in Q3 with a market share of 18 percent and shipments of 7.9 million units. Xiaomi Reached second place by shipping 7.6 million units. The Chinese brand has gained 21 percent market share mainly due to the release of its affordable 5G models. Vivo Ranked third with 7.2 million shipments and 16 percent market share. Other BBK subsidiaries, real me And Opposition Came fourth and fifth respectively. Realme shipped 5.8 million units and captured 14 percent market share, while Oppo shipped 4.4 million units and captured 12 percent market share.
Canalys says brands boosted their festive product lineups by focusing on the budget-friendly 5G smartphone segment. Xiaomi expands its 5G portfolio by launching budget-friendly models redmi 12 5g And Poco M6 Pro 5G, contributing to the growth of 5G offerings in their lineup. Along with this, Realme also made a mark in the market. realme 11x 5g And realme 11 5g Model. Brands like Motorola, Infinix and Tecno also sold limited quantities of their new affordable 5G devices.
According to the report, the premium smartphone segment also witnessed strong growth in the recently concluded quarter. Sales of Samsung’s Galaxy S23 series and Apple’s iPhone 14 and iPhone 13 lineup increased during the festive sales due to online sales offers.
Canalys believes that increased consumer confidence and the launch of new handsets will help the market gradually move towards recovery. “Despite consumer confidence rising in the market in the second half, the path to recovery will be challenged by global economic concerns,” said Sanyam Chaurasia, senior analyst at Canalys. “Growth in 2024 depends on uncertain macroeconomic factors, particularly affecting the vulnerable entry-level segment. However, the Indian economy has remained relatively resilient to the sudden shocks brought about by these changes and brands are adapting to market dynamics. To maintain market share, sellers should prioritize reducing channel pressure and creating a lean product portfolio. “They should have ‘hero models’ in each price segment while maintaining a balanced inventory across all channels,” he said.