The number of smartphones sold in India fell 3 percent year-on-year in the July-September (Q3) period of 2023, according to a new report from market research firm Canalys. Despite the decline, Samsung continued to lead the smartphone market with 7.9 million shipments and an 18 percent market share. The South Korean company launched its Galaxy S23 series early this year and the flagship phones have apparently helped it increase its market share. Xiaomi comes in at a close second, followed by other Chinese smartphone brands, including Vivo, Realme and Oppo in the top five. The upcoming festival sales and improved consumer confidence are expected to lead to positive growth in the coming months.
Analyst firm Canalys said in its latest report that 43 million smartphones were shipped in India in the third quarter of 2023. This figure marks a 3 percent decline in shipments year-over-year.
Following past trends, Samsung captured a large share of India’s smartphone shipments and retained its top position in the third quarter with an 18 percent market share and shipments of 7.9 million units. Xiaomi moved up to the second position by shipping 7.6 million units. The Chinese brand has captured 21 percent of the market share, mainly thanks to the introduction of its affordable 5G models. Vivo came third with 7.2 million shipments and a 16 percent market share. Other BBK subsidiaries, Realme and Oppo, came fourth and fifth respectively. Realme shipped 5.8 million units and got a 14 percent market share, while Oppo shipped 4.4 million units and got a 12 percent market share.
Canalys notes that brands promoted their festive product range with a focus on the budget-friendly 5G smartphone segment. Xiaomi expanded its 5G portfolio with the launch of budget-friendly models such as the Redmi 12 5G and Poco M6 Pro 5G, contributing to the growth of 5G offerings in their lineup. Realme also gained traction in the market with its Realme 11x 5G and Realme 11 5G models. Brands like Motorola, Infinix and Tecno also provided limited volume through their new affordable 5G devices.
The premium smartphone segment also saw robust growth in the just ended quarter, the report showed. Sales of Samsung’s Galaxy S23 series and Apple’s iPhone 14 and iPhone 13 series soared during the festive sales, driven by online sales promotions.
Canalys notes that increased consumer confidence and the launch of new mobile phones are likely to help the market move towards a gradual recovery. “Despite the market gaining consumer confidence in the second half of the year, the road to recovery will be complicated by global economic concerns,” said Canalys senior analyst Sanyam Chaurasia. “Growth in 2024 depends on uncertain macroeconomic factors, which mainly affect the vulnerable entry-level segment. However, the Indian economy remains relatively resilient to sudden shocks due to these variables, and brands are adapting to the market dynamics. To maintain market share, suppliers must prioritize reducing channel pressure and building a streamlined product portfolio. They should have ‘hero models’ in every price segment while maintaining a balanced inventory across channels,” he added.
