India’s premium smartphone shipments grew 112% YoY in Q2 as overall demand improved

India’s premium smartphone segment, contributing 17% to overall shipments, was led by Samsung while Apple led the ultra-premium segment  

August 01, 2023 02:16 pm | Updated 06:32 pm IST

Smartphone shipments in India declined by 3% year-over-year (YoY) in Q2 2023, down from 19% in Q1.

Smartphone shipments in India declined by 3% year-over-year (YoY) in Q2 2023, down from 19% in Q1. | Photo Credit: Reuters

Smartphone shipments in India declined by 3% year-over-year (YoY) in Q2 2023, down from 19% in Q1. Though the decline was the fourth consecutive quarterly decline, pent-up demand and improving macroeconomic conditions helped the market close at less than expected decline.

Meanwhile, the premium segment in the country grew by 112% YoY in Q2 2023, contributing a record 17% to overall shipments, Counterpoint, a global analysis firm, said in a blog post.

Aggressive measures were implemented by OEMs as well as channels during the quarter to clear existing inventory through multiple sales and promotions. At the consumers’ end, falling inflation and better growth prospects along with 5G upgrades played a major role as OEMs kept launching new devices in the ₹10,000-15,000 segment for wider reach, senior research analyst Shilpi Jain said.

In the premium segment, Samsung surpassed Apple, with an 18% share, for the third consecutive quarter even as the iPhone manufacturer led the ultra-premium segment with a 59% share. Making India among its top-five markets.

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Vivo, while maintaining its share in the market, became the only brand amongst the top five brands to witness YoY growth in the country. OnePlus was the fastest-growing brand with 68% YoY growth.

Additionally, 4G feature phone share in the overall phone shipments increased to 10% in Q2 2023 driven by the JioBharat and itel Guru series’ launch. The feature phones market share is further expected to increase to 18% by the end of 2023 on the back of growing demand for UPI, and multiple launches from OEMs.

Easy finance options and high demand for the latest premium A-series and F-series devices drove the growth of Samsung. Vivo benefited from the strong offline presence, growth of the sub-brand iQOO online, and multiple launches across price tiers. In the ₹20,000-30,000 segment, OPPO emerged as the top brand with a 21% market share, research analyst Shubham Singh said.

Offline sales also witnessed growth and are expected to rise to 54% in 2023, with online heavy brands like Xiaomi, Realme, and OnePlus emphasising offline expansion to enhance customer engagement and ecosystem development. Samsung and Apple are also increasing their offline presence to cater to diverse customer preferences, the post said.

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