The Indian smartphone industry has seen a decline in sales of smartphones after registering rapid growth over the past few years.
Sales slowdown
The first six months of 2023 have seen a 10% decline in YoY sales.
Only 64 million units of smartphones were sold, compared to 70 million in the first half of 2022.
The second quarter of 2023 also saw a 3% decline in contrast to sales reported in Q2 of 2022.
Premium phones outperform
Despite this slowdown, there has been a 10% growth in Q2 of 2023.
The lion’s share was contributed by the premium segment, i.e. phones that cost over Rs. 50,000.
This particular segment has seen a 75% YoY growth.
Reigning smartphone brand
IDC India reports that Vivo has beat Samsung in terms of smartphone market share.
It enjoys a 16% market share, whereas Samsung has 15.7%.
The difference may be small, but Vivo has managed to outperform not just Samsung but also Xiaomi, Realme, and OPPO.
Apple and OnePlus have seen a 61% YoY growth in sales numbers.
Their flagships, iPhone 13 and the OnePlus CE 3 Lite were the top-selling 5G smartphones in India over the last year.
Market share
As already mentioned, Samsung and Vivo lead the market with almost 16% market share each.
Realme and OPPO follow with 12% and 11%, respectively.
Xiaomi is looking at uncertain times with a market share that has declined to just 10%.
Industry outlook
Upasana Joshi, Research Manager at IDC India, has said that Indian consumers are seeking more premium options, which they can buy more easily with convenient financing options from credit cards and EMIs.
The coming two quarters could witness more growth as brands launch affordable 5G devices.
The festive season is expected to be a lucrative one, with mega sale events such as the Amazon Great Indian Festival Sale and the Flipkart Big Billion Days Sale.
