Smartphone shipments in India declined 3 % year-on-year (YoY) for the July-September interval (Q3) in 2023, reveals a brand new report by market analysis agency Canalys. Despite the autumn, Samsung continued to steer the smartphone market with 7.9 million shipments and 18 % market share. The South Korean firm launched its Galaxy S23 collection early this 12 months and the flagship telephones have apparently helped develop its market share. Xiaomi is in a detailed second spot, adopted by different Chinese smartphone manufacturers together with Vivo, Realme, and Oppo in the highest 5 locations. Upcoming competition gross sales and improved shopper confidence are anticipated to result in constructive development in the approaching months.
Analyst agency Canalys mentioned in its newest report that 43 million smartphones had been shipped in India in the third quarter of 2023. The determine marks a 3 % drop in year-on-year shipments.
Following previous developments, Samsung loved a serious share of India’s smartphone shipments and maintained its prime place in Q3 with a market share of 18 % and a cargo of seven.9 million items. Xiaomi superior to the second place by transport 7.6 million items. The Chinese model has grabbed 21 % of the market share primarily fueled by the discharge of its reasonably priced 5G fashions. Vivo got here third with 7.2 million shipments and a 16 % market share. Other BBK subsidiaries, Realme and Oppo got here in fourth and fifth, respectively. Realme shipped 5.8 million items and bought a 14 % market share, whereas Oppo shipped 4.4 million items and obtained a 12 % market share.
Canalys notes that manufacturers promoted their festive product lineup with a concentrate on the budget-friendly 5G smartphone section. Xiaomi expanded its 5G portfolio with the launch of budget-friendly fashions just like the Redmi 12 5G and Poco M6 Pro 5G, contributing to the expansion of 5G choices in their lineup. Realme additionally gained traction in the market with its Realme 11x 5G and Realme 11 5G fashions. Brands like Motorola, Infinix and Tecno additionally drove restricted quantity by way of their new reasonably priced 5G gadgets.
The premium smartphone section additionally witnessed sturdy development in the just-ended quarter, as per the report. Sales of Samsung’s Galaxy S23 collection and Apple’s iPhone 14, and that iPhone 13 lineup surged in the course of the festive gross sales pushed by on-line sale gives.
Canalys observes that elevated shopper confidence and the launch of recent handsets will probably assist the market transfer towards gradual restoration. “Despite the market gaining consumer confidence in the second half, the road to recovery will be challenged by global economic concerns,” mentioned Canalys senior analyst Sanyam Chaurasia. “The growth in 2024 hinges on uncertain macroeconomic factors, particularly affecting the vulnerable entry-level segment. However, the Indian economy remains relatively resilient to sudden shocks from these variables and brands are adapting to market dynamics. To maintain market share, vendors should prioritise reducing channel pressures and building a lean product portfolio. They should have ‘hero models’ in each price segment while maintaining balanced inventories across channels” he added.
