Samsung regains top spot in Indian smartphone market; OnePlus, Poco show massive growth in Sept quarter
The average selling price (ASP) hit a high of US$253, with 5 per cent quarter-on-quarter (QoQ) and 12 per cent YoY growth
- Nov 7, 2023,
- Updated Nov 7, 2023 1:46 PM IST
The smartphone market in India remained flat year-over-year (YoY), shipping 44 million units in the third quarter of 2023. According to the International Data Corporation’s (IDC), in July and August, there was a modest increase in growth, attributed to early festive stocking by the channels. However, September experienced the lowest number of shipments since 2019 due to a decrease in demand and high prices, which hindered growth. Despite the lower shipments, the average Indian buyer is spending more on smartphones. The average selling price (ASP) hit a high of US$253, with 5 per cent quarter-on-quarter (QoQ) and 12 per cent YoY growth
5G Smartphone Shipments
5G smartphone shipments reached a record 58 per cent share with 25 million units in the third quarter of CY 2023. The majority of 5G smartphone launches were in the mass budget (US$100 Market Segmentation The entry-level (sub-US$100) segment grew by 16 per cent YoY, with a 20 per cent share. The mass budget (US$100 Top Brands Samsung surpassed vivo for the leadership position, although its shipments declined YoY. Samsung had the highest ASP amongst the top five brands at US$381, growing by 43 per cent YoY. realme climbed to the second slot, driven by the newly launched C53 and 11x. vivo (excluding iQOO), registered the highest growth amongst the top five brands, driven by affordable Y and T series models. OnePlus, with 35 per cent of shipments driven by Nord CE3 Lite, and Poco, also had growth of 50 per cent+ YoY. The following is the ranking of smartphone brands along with market share in the Indian market for the third quarter ending September: 1. Samsung- 16.2% 2. Realme- 15.1% 3. Vivo- 13.9% 4. Xiaomi- 11.7% 5. OPPO- 9.9% 6. OnePlus- 6.2% 7. Poco- 5.7% 8. Apple-5.5% 9. Infinix- 3.1% 10. Tecno- 2.9% 11. Others- 9.8% Future Outlook According to Navkendar Singh, AVP – Devices Research, IDC, a range of microfinancing options available on budget devices like no-cost EMI offers for longer periods (from 24 to 30 months) and affordability initiatives by all major brands has given a modest start to the festive season. However, as demand softens in the latter half of the quarter (post-Diwali), Singh said, “As demand softens in the latter half of the quarter (post-Diwali), brands may face excess inventory challenges. Hence, the outlook for 2023 remains flat or a low single-digit decline. Next year we will see a range of affordable 5G and foldable phones at the mid to premium end, but the inflationary stress and longer refresh cycles will likely limit the annual market growth in 2024.” Also read: Apple sees India as extraordinary market, lot of people moving into the middle class: CEO Tim Cook Also read: Top smartphones coming to India in November
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The smartphone market in India remained flat year-over-year (YoY), shipping 44 million units in the third quarter of 2023. According to the International Data Corporation’s (IDC), in July and August, there was a modest increase in growth, attributed to early festive stocking by the channels. However, September experienced the lowest number of shipments since 2019 due to a decrease in demand and high prices, which hindered growth. Despite the lower shipments, the average Indian buyer is spending more on smartphones. The average selling price (ASP) hit a high of US$253, with 5 per cent quarter-on-quarter (QoQ) and 12 per cent YoY growth
5G Smartphone Shipments
5G smartphone shipments reached a record 58 per cent share with 25 million units in the third quarter of CY 2023. The majority of 5G smartphone launches were in the mass budget (US$100 Market Segmentation The entry-level (sub-US$100) segment grew by 16 per cent YoY, with a 20 per cent share. The mass budget (US$100 Top Brands Samsung surpassed vivo for the leadership position, although its shipments declined YoY. Samsung had the highest ASP amongst the top five brands at US$381, growing by 43 per cent YoY. realme climbed to the second slot, driven by the newly launched C53 and 11x. vivo (excluding iQOO), registered the highest growth amongst the top five brands, driven by affordable Y and T series models. OnePlus, with 35 per cent of shipments driven by Nord CE3 Lite, and Poco, also had growth of 50 per cent+ YoY. The following is the ranking of smartphone brands along with market share in the Indian market for the third quarter ending September: 1. Samsung- 16.2% 2. Realme- 15.1% 3. Vivo- 13.9% 4. Xiaomi- 11.7% 5. OPPO- 9.9% 6. OnePlus- 6.2% 7. Poco- 5.7% 8. Apple-5.5% 9. Infinix- 3.1% 10. Tecno- 2.9% 11. Others- 9.8% Future Outlook According to Navkendar Singh, AVP – Devices Research, IDC, a range of microfinancing options available on budget devices like no-cost EMI offers for longer periods (from 24 to 30 months) and affordability initiatives by all major brands has given a modest start to the festive season. However, as demand softens in the latter half of the quarter (post-Diwali), Singh said, “As demand softens in the latter half of the quarter (post-Diwali), brands may face excess inventory challenges. Hence, the outlook for 2023 remains flat or a low single-digit decline. Next year we will see a range of affordable 5G and foldable phones at the mid to premium end, but the inflationary stress and longer refresh cycles will likely limit the annual market growth in 2024.” Also read: Apple sees India as extraordinary market, lot of people moving into the middle class: CEO Tim Cook Also read: Top smartphones coming to India in November
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine