NEW DELHI: India’s smartphone market has maintained stability with 148.6 million shipments total in 2023, witnessing a minor drop of two per cent, a brand new report has stated.
In keeping with the market analysis agency Canalys, Indian smartphone distributors benefited from sturdy demand all through the competition season, driving This fall gross sales to 38.9 million models — a exceptional 20 per cent enhance compared to the earlier yr.
“In 2023, rising funding in mainline retail house proved useful not just for distributors but additionally allowed the general market to stabilise,” stated Sanyam Chaurasia, Senior Analyst at Canalys.
Samsung maintained the highest place within the fourth quarter (This fall) of 2023 with a market share of 20 per cent and shipments of seven.6 million models. Xiaomi continued its sturdy efficiency, claiming second place by transport 7.2 million models. Vivo secured third place with shipments of seven million models, whereas realme and OPPO rounded out the highest 5 by transport 4.5 million and three.7 million models, respectively, the report talked about.
“The premium section witnessed sturdy progress, because of straightforward financing choices, incentive schemes for retailers and rising disposable earnings,” stated Chaurasia.
“With the celebration of Diwali in November 2023, Apple received the chance to push the most recent iPhone 15 collection through the festive gross sales, contributing greater than 50% to its shipments in This fall,” he added.
The analyst additionally famous that Samsung had set aggressive retail targets for its premium Galaxy S23 collection to drive premium section progress. Together with this, Samsung’s newest Galaxy S23 FE launch in This fall drove shipments, because of compelling banking offers.
“Canalys expects the Indian smartphone market to develop by mid-single digits in 2024, pushed by inexpensive 5G and the pandemic interval alternative cycle. However the largest problem for distributors this yr will likely be to handle the rising invoice of supplies prices,” Chaurasia acknowledged.
