Samsung emerged as the leader in the Indian smartphone market in 2023, capturing a 18 per cent share, according to a report by CyberMedia Research (CMR).
However, in the December quarter, Xiaomi held the highest market share. The overall Indian smartphone market witnessed 19 per cent year-over-year growth, with 5G smartphone shipments constituting 65 percent of the market, 122 per cent growth.
Samsung maintained its leadership position throughout 2023 with an 18 per cent market share, followed closely by Vivo at 16 per cent. In the 5G smartphone segment, Samsung continued to lead with a 23 per cent market share, followed by Vivo at 15 per cent and OnePlus at 13 per cent.
Premium smartphone shipments, priced over Rs 25,000 per unit, witnessed a substantial 71 per cent year-over-year growth. Apple secured a 6 per cent market share in the smartphone market during the fourth quarter, with its iPhone 15 series contributing more than 50 per cent of total shipments.
The report highlights that 58 per cent of 5G smartphones shipped fell under the value-for-money segment, in the price range of Rs 7,000-Rs 25,000 per unit, indicating a significant increase from the previous year. Additionally, the super premium smartphone segment priced over Rs 50,000 experienced a remarkable 65 per cent year-over-year growth.
In the feature phone market, which recorded 52 per cent year-over-year growth, Jio dominated with a 38 per cent share, followed by Itel Mobile and Lava. POCO, Xiaomi's sub-brand, witnessed a substantial 148 per cent growth in smartphone shipments, while Vivo's 5G smartphone shipments recorded an impressive 300 per cent jump year-over-year.
Looking ahead to 2024, CMR estimates 7-8 per cent growth in India's smartphone market, primarily driven by strong demand for 5G smartphones. They anticipate a surge of over 40 per cent in 5G smartphone shipments and over 10 per cent growth in 4G feature phones.
(With PTI inputs)
READ MORE: HDFC Bank gets RBI approval to buy up to 9.50 per cent stake in IndusInd Bank
