Samsung was the best-selling smartphone brand in India in 2023: Counterpoint

According to ResearchSamsung led the market in 2023 with 18 percent share due to the strong performance of the A-series, “aggressive offline marketing and focused approach in the premium segment”.

Vivo It stood second with 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 position in 2023, but was able to regain the top spot in Q4 2023 due to launching 5G phones in the affordable segment, offline expansion, and a leaner portfolio. Brands like OnePlus, Google, Lava, Motorola and Transcen see significant growth in 2023.

India’s smartphone market in 2023

  • An analyst was quoted as saying that OEMs have focused on bringing 5G to the lower segment. This resulted in a 66 percent increase, with the share of 5G phone shipments crossing 52 percent in 2023.
  • The last quarter (October-December) came out of the market with good inventory levels as compared to last year. This will set the right direction of development for the next year.
  • Counterpoint says it believes the market will grow 5 percent year-on-year next year.
competition

The premium segment is expected to see a 64 per cent YoY growth in 2023 due to easy financing schemes. This resulted in customers jumping across price bands to buy higher priced phones. Counterpoint says one in three smartphones purchased in 2023 was through financing.

Apple’s focus on India is also helping this trend. The brand crossed the 10 million unit mark in shipments and topped revenues in a calendar year for the first time, driven by demand for both its latest and vintage. iPhone. Additionally, its increased focus on LFR (large format retail) through retail store openings and regular promotions contributed to the increase in offline shipments.

The share of offline channels increased to 55 percent in 2023, thanks to consumers’ preference for touch devices. This trend is expected to continue in 2024 due to increased trade-ins and more financing options.

The foldable segment is expected to gain popularity in the premium segment and shipments are estimated to exceed 1 million in 2024.

Leave a Reply