A recent report on Monday indicates that India is now amongst Apple’s top 5 markets globally as the iPhone maker continued to lead the ultra-premium segment (Rs 45,000 and above) with a 59 percent share in the second quarter of 2023.
India Among Apple’s Top 5 Smartphone Markets
This became possible with India’s premium smartphone segment, which grew 112 percent (year-on-year) in the April-June period.
Presently, it contributes a record 17 percent to its overall shipments, as per the information provided by Counterpoint Research.
When it comes to the overall India smartphone market, Samsung remained at the top position for the third consecutive quarter with an 18 percent share.
It appears that this South Korean brand also surpassed Apple to regain its top position in the premium smartphone segment (Rs 30,000 and above) after one year with a 34 percent share.
The research analyst Shubham Singh said, “However, Apple continued to lead the ultra-premium segment with a 59 per cent share. India is now among Apple’s top-five markets.”
Next comes the Chinese smartphone brand, Vivo as it maintained its second position.
It was the only brand among the top five to experience annual growth.
Moving ahead, the Shenzhen headquartered Chinese smartphone brand, OnePlus was the fastest-growing brand in India’s smartphone market in Q2 with 68 percent YoY growth.
Improvement In The Inventory And Demand Situation
“In Q2, OEMs saw improvement in the inventory and demand situation ahead of the coming festive season. Aggressive measures were implemented by OEMs as well as channels during the quarter to clear existing inventory through multiple sales and promotions,” according to the senior research analyst, Shilpi Jain.
Further adding, “We believe brands will be coming up with interesting launches and offers to lure consumers during the festive season and 5G will be a big growth driver here.”
Vivo’s growth is facilitated by the strong offline presence, growth of sub-brand iQOO online, and multiple launches across price tiers.
During this period, OPPO emerged as the top brand in the upper mid-tier range (Rs 20,000-Rs 30,000) segment with a 21 percent market share.
The 5G smartphone shipments in India crossed the 100-million cumulative mark in Q2.
The report said that the 5G upgrades picked up pace driven by the expansion of 5G networks and availability of affordable devices.
