Smartphone shipments in India to grow 25 percent year-on-year in Q4 2023, Xiaomi tops: Counterpoint

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Smartphone shipments in India grew by a significant 25 percent year-on-year (YoY) for the October-December period (Q4) in 2023, according to a new report by market research firm Counterpoint. Xiaomi reached the top spot this quarter with 18 percent market share, which is the first time since Q3 2022. This feat was achieved after the company entered the affordable 5G segment with Redmi 13C. Vivo has retained its second position, followed by Samsung which has slipped to third position after leading the market for four consecutive quarters. Chinese smartphone brands Realme and Oppo stood fourth and fifth respectively.

In its report, Counterpoint highlighted the 61 percent contribution of 5G smartphones as one of the key factors behind the growth in the quarter. Notably, the 5G phone at an affordable Rs. 10,000 – Rs. The Rs 15,000 price band contributed 24 per cent to the total smartphone shipments. The premium smartphone segment also saw a growth of 51 percent. As a result of the launch of the iPhone 15 series, Apple continued to lead the segment with 17 percent market share.

Talking about the brand-wise comparison of the top five positions, Xiaomi emerged as the market leader with 18 percent market share. Vivo remained in second place for the fourth consecutive quarter and achieved 17 percent share of the smartphone market. In third place, Samsung was only able to gain 16.8 percent share, after a strong Q3 showing it had taken over the market. Realme stood fourth with 11 percent market share. The report also highlighted that the company is the fastest growing brand with 69 percent year-on-year growth. Oppo remains at fifth position with 10 percent market share.

However, despite a good quarter, the broader outlook for smartphone shipments in India remained stable at 152 million units in 2023, a separate Counterpoint report said. The market research firm cited challenges emerging from macroeconomic turmoil resulting in lower demand and inventory build-up in the first half of 2023 as the reason for the lack of growth. “The market began to recover in the second half of the year, supported by 5G upgrades and better-than-expected festive sales,” the report said.

Samsung took the top spot in 2023 after taking 18 percent of the market due to strong performance in the first three quarters. It is the first time the South Korean tech group led a calendar year since 2017. Notably, the company launched the Samsung Galaxy S23 series along with the Galaxy Z Fold 5 and Galaxy Z Flip 5 in 2023. Showing stable performance, Vivo retained the second position with 17 percent share. Chinese smartphone brands Xiaomi, Realme and Oppo remained in the next three positions with 16.5 percent, 12 percent and 10.5 percent market share respectively.

While Apple did not rank among the top five in shipments, it crossed the ten million mark in revenue for the first time in a calendar year and remained the leader in the category.


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