Samsung was the bestselling smartphone brand in India in 2023: Counterpoint
As per the research, Samsung led the market in 2023 with an 18 percent share driven by a strong performance of the A-series, “aggressive offline marketing and focused approach in the premium segment.”
Vivo ranked second with a 17 percent share and led the affordable premium segment in 2023, thanks to the Vivo V29 series in offline and T-series in online platforms.
Xiaomi slipped to the third spot in 2023 but was able to grab the top spot in Q4 2023 driven by the move to launch 5G phones in the affordable segment, offline expansion and a leaner portfolio. Brands like OnePlus, Google, Lava, Motorola, and Transsion witnessed significant growth in 2023.
India smartphone market in 2023
- An analyst was quoted saying that OEMs focused on bringing 5G to the lower segment. This resulted in a 66 percent growth, with 5G phone shipments share crossing 52 percent in 2023.
- The last quarter (October-December) exited the market with healthy inventory levels compared to last year. This will set the right tone for growth for next year.
- Counterpoint says that it believes the market will grow by 5 percent YoY next year.
The premium segment witnessed a 64 percent YoY growth in 2023, driven by easy financing schemes. This resulted in customers jumping price bands to purchase higher-priced phones. Counterpoint says that one out of every three smartphones purchased was through financing in 2023.
Apple’s focus on India is also helping the trend. The brand surpassed the 10 million unit mark in shipments and captured the top position in revenue in a calendar year for the first time, propelled by the demand for both its latest and older iPhones. Additionally, the opening of its retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments.
Offline channels grew to a 55 percent share in 2023, all thanks to consumers’ preference to touch the device. This trend is expected to continue in 2024 as well, courtesy of increased trade-ins and more financing options.
The foldable segment is expected to gain popularity in the premium segment and the shipments are predicted to exceed 1 million in 2024.
As per the research, Samsung led the market in 2023 with an 18 percent share driven by a strong performance of the A-series, “aggressive offline marketing and focused approach in the premium segment.”
Vivo ranked second with a 17 percent share and led the affordable premium segment in 2023, thanks to the Vivo V29 series in offline and T-series in online platforms.
Xiaomi slipped to the third spot in 2023 but was able to grab the top spot in Q4 2023 driven by the move to launch 5G phones in the affordable segment, offline expansion and a leaner portfolio. Brands like OnePlus, Google, Lava, Motorola, and Transsion witnessed significant growth in 2023.
India smartphone market in 2023
- An analyst was quoted saying that OEMs focused on bringing 5G to the lower segment. This resulted in a 66 percent growth, with 5G phone shipments share crossing 52 percent in 2023.
- The last quarter (October-December) exited the market with healthy inventory levels compared to last year. This will set the right tone for growth for next year.
- Counterpoint says that it believes the market will grow by 5 percent YoY next year.
The premium segment witnessed a 64 percent YoY growth in 2023, driven by easy financing schemes. This resulted in customers jumping price bands to purchase higher-priced phones. Counterpoint says that one out of every three smartphones purchased was through financing in 2023.
Apple’s focus on India is also helping the trend. The brand surpassed the 10 million unit mark in shipments and captured the top position in revenue in a calendar year for the first time, propelled by the demand for both its latest and older iPhones. Additionally, the opening of its retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments.
Offline channels grew to a 55 percent share in 2023, all thanks to consumers’ preference to touch the device. This trend is expected to continue in 2024 as well, courtesy of increased trade-ins and more financing options.
The foldable segment is expected to gain popularity in the premium segment and the shipments are predicted to exceed 1 million in 2024.
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