India’s smartphone market remains flat in 2023, Apple surpasses 10-mn unit mark

NEW DELHI: India’s smartphone shipments remained flat in 2023 at 152 million units, as Apple surpassed the 10-million-unit mark in shipments and capturing the top position in revenue in a calendar year for the first time, a new report showed on Wednesday.

With an 18 per cent share, Samsung took the top spot last year, for the first time since 2017, according to Counterpoint Research.

Vivo took the second spot in 2023 with a 17 per cent share and led the affordable premium segment (Rs 30,000-Rs 45,000) with a 33 per cent share.

Xiaomi slipped to the third spot in 2023 but led in Q4 2023 with an 18.3 per cent share.

OnePlus grew by 33 per cent YoY in 2023 driven by offline expansion and better product portfolio in the affordable premium segment (Rs 30,000-Rs 45,000).

5G smartphone shipment share crossed 52 per cent in India, growing 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,” said senior research analyst Shilpi Jain.

The last quarter (October-December) exited the market with healthy inventory levels compared to last year, setting the right tone for growth for next year.

“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 segment witnessed a 64 per cent YoY growth, driven by easy financing schemes, which resulted in consumers jumping price bands to purchase higher-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,” said research analyst Shubham Singh.