khaskhabar.com : Thursday, April 20, 2023 5:47 PM
New Delhi. The Indian smartphone market witnessed a first quarter decline of 20 percent (year-on-year) in the first quarter, amid sluggish consumer demand. This information has been given in a new research.
Overall, India’s smartphone market is expected to see shipments of 30.6 million units in the first quarter of 2023, a sharp decline from 38.2 million units in the first quarter of 2022.
According to market research firm Canalys, the market is still witnessing uneven demand distress and channels for stock build-up remain weak.
Samsung topped the list with 21 percent market share, shipping 6.3 million units.
OPPO has overtaken Vivo and Xiaomi to reach the second spot with 5.5 million shipments, driven by successful new product launches.
After trailing significantly, Vivo ranked third with 5.4 million shipments as it continued to drive strong momentum across offline channels.
Xiaomi slipped to the fourth spot, shipping 5 million units, while Realme retained the fifth position with 2.9 million shipments as online channels remained muted.
Analyst Sanyam Chaurasia said, “Just as economic indicators at the end of Q4 2022 clearly suggested that demand would remain sluggish in the near term, the same was observed in Q1 2023. Investments are on the rise as they are in line with the government’s vision and changing consumer behaviour.”
Chaurasia said that the year 2023 will be challenging as the mass-market segment is still growing at a slow pace. However, to boost the ASP growth of the overall market, the premium segment is poised for growth.
Currently, India’s smartphone export growth is mainly driven by Apple and Samsung, helping it achieve a record-breaking export value of nearly $4 billion in the first quarter.
Canalys expects modest growth this year, driven by organic growth drivers.
As noted in the report, to spur the upgrade cycle, 5G devices and other market drivers must provide compelling utility for consumers.
Chaurasia said, “Apple’s new offline stores are staffed by specialist staff who will further enhance its brand experience and positioning. While online heavy brands have operated units primarily through e-commerce sales, generating periodic volume has increased.”(IANS)
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