khaskhabar.com : Saturday, October 21, 2023 11:16 AM
New Delhi. Samsung retained its top position in the Indian smartphone market with 18 percent market share and shipments of 7.9 million units in the third quarter.
Xiaomi moved up to second place with shipments of 7.6 million units, mainly driven by the release of its affordable 5G models.
According to market research firm Canalys, Vivo slipped to third place with deliveries of 7.2 million units, while Realme and Oppo (except OnePlus) remained in the top five by delivering 5.8 million and 4.4 million units respectively.
India recorded 43 million shipments in Q3 2023 as the market gradually moves towards recovery.
Although shipments declined 3 percent year-on-year, the quarter saw an improving consumer environment, allowing vendors to capitalize on newly introduced devices.
“In the third quarter, smartphone brands strategically boosted their festive product lineups with an emphasis on budget-friendly 5G options,” said Sanyam Chaurasia, senior analyst at Canalys.
The entry-level segment saw a surge in demand as vendors introduced 5G models on a large scale.
“The premium segment continued to experience strong growth,” Chaurasia said. “This was driven by Samsung’s S23 series and older generation Apple iPhones, such as iPhone 14 and iPhone 13, being offered at attractive deals during the festive sales.”
The market also saw the re-entry of Honor through the strategic joint venture route with HTech and the launch of its Honor 90 model.
Brands like OnePlus, Infinix and Tecno saw strong growth primarily due to increased channel presence, increased offerings and gaining some positive momentum from the 2021 chip shortage period.
“Despite consumer confidence rising in the market in the second half, the path to recovery will be challenged by global economic concerns,” Chaurasia said.
Growth in 2024 depends on uncertain macroeconomic factors, which particularly impact the vulnerable entry level segment.
“To maintain market share, sellers should prioritize reducing channel pressure and building a lean product portfolio,” the report said.
They should have ‘hero models’ in every price segment while maintaining a balanced inventory across all channels.”
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Web Title-Samsung leads India’s smartphone market in third quarter with 8 percent share