According to a recent report by Counterpoint Research, India has now become one of Apple's top five smartphone markets globally. Apple continues to dominate the ultra-premium segment (devices priced Rs 45,000 and above) with an impressive 59% market share in the second quarter of 2023. During the same period, India's premium smartphone segment experienced remarkable growth, reaching a 112% year-on-year increase, and now accounts for a record 17% of the overall smartphone shipments in the country.
Despite Apple's strong performance, Samsung remained the leader in the overall India smartphone market, maintaining its top position for the third consecutive quarter with an 18% market share. Additionally, Samsung managed to regain its top spot in the premium smartphone segment (devices priced Rs 30,000 and above) after a year, securing a 34% share. However, Apple continued its dominance in the ultra-premium segment.
Vivo held onto its second position in the overall smartphone market and was the only brand among the top five to achieve annual growth. On the other hand, OnePlus emerged as the fastest-growing brand in India's smartphone market during Q2, boasting an impressive 68% year-on-year growth.
The report highlighted that OEMs (Original Equipment Manufacturers) witnessed improvements in inventory and demand, thanks to various sales and promotions implemented during the quarter to clear existing inventory ahead of the upcoming festive season. The analysts predict that brands will continue to come up with enticing launches and offers to attract consumers during the festive period, and the implementation of 5G technology is expected to be a significant growth driver in the market.
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Vivo's growth was attributed to its strong offline presence, the success of its sub-brand iQOO in the online segment, and multiple launches across different price tiers. OPPO, on the other hand, emerged as the top brand in the upper mid-tier range (devices priced between Rs 20,000 to Rs 30,000) with a notable 21% market share.
Another notable milestone for the Indian smartphone market was the crossing of the 100-million cumulative mark for 5G smartphone shipments in Q2. The increase in 5G upgrades was driven by the expansion of 5G networks and the availability of more affordable 5G-enabled devices in the market.
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Inputs from IANS
Inputs from IANS
