Published By: Shaurya Sharma
Last Updated: February 01, 2024, 09:05 IST
The ‘Pro’ sequence from Apple stands out as one of the costly smartphone lineups in India.
For the primary time, Apple has crossed the ten million items mark in India, regardless of total shipments remaining flat. Here are the main points.
India’s smartphone shipments remained flat in 2023 at 152 million items, as Apple surpassed the ten-million-unit mark in shipments and capturing the highest place in income in a calendar yr for the primary time, a brand new report confirmed on Wednesday.
With an 18 per cent share, Samsung took the highest spot final yr, for the primary time since 2017, in response to Counterpoint Research.
Vivo took the second spot in 2023 with a 17 per cent share and led the inexpensive premium phase (Rs 30,000-Rs 45,000) with a 33 per cent share.
Xiaomi slipped to the third spot in 2023 however led in This fall 2023 with an 18.3 per cent share.
OnePlus grew by 33 per cent YoY in 2023 pushed by offline growth and higher product portfolio within the inexpensive premium phase (Rs 30,000-Rs 45,000).
5G smartphone cargo share crossed 52 per cent in India, rising 66 per cent YoY.
“Driven by the premium segment’s growth and 5G upgrades, India’s smartphone market grew 25 per cent YoY in Q4 2023 after declining for a year,” mentioned senior analysis analyst Shilpi Jain.
The final quarter (October-December) exited the market with wholesome stock ranges in comparison with final yr, setting the precise tone for progress for subsequent yr.
“We believe the market will grow by 5 per cent YoY next year driven by premiumization, diffusion of 5G in lower price bands and better macroeconomic conditions,” Jain added.
The premium phase witnessed a 64 per cent YoY progress, pushed by simple financing schemes, which resulted in customers leaping worth bands to buy larger-priced smartphones.
“For Apple, the opening of own retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments. Besides, higher trade-in values presented an appealing proposition for consumers to transition to iOS,” mentioned analysis analyst Shubham Singh.
(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – IANS)
