Samsung reclaimed its top position in India’s smartphone market in 2023, overtaking Xiaomi for the first time in six years, according to Counterpoint Research. However, Xiaomi maintained its lead in the fourth quarter with an 18.3% market share, showcasing its resilience in the competitive market.
What to know? Overall, smartphone shipments in India remained stable at around 152 million units for the year. The market faced challenges in the first half but saw a recovery in the second, bolstered by 5G upgrades and strong festive sales. Notably, Apple’s shipments in India surpassed 10 million for the first time.
Samsung’s success comes from its aggressive marketing, especially in offline channels, and the strong performance of its A series. The company’s focused strategy in the premium segment also paid off. Vivo secured the second position, thanks to the appealing design of its V29 series and its effective offline presence with the T series.
Xiaomi, despite losing the annual lead, stayed ahead in the last quarter by launching affordable 5G phones and streamlining its product lineup, avoiding duplication between its Redmi and Poco brands.
The premium smartphone market in India witnessed a significant 64% year-over-year growth, driven by financing schemes making higher-priced phones (over ₹30,000) more accessible. Apple’s physical stores and attractive retail deals supported its growth in this segment.
Looking ahead, the focus is shifting towards devices supporting Dolby Atmos and Dolby Vision, along with Generative AI features. Counterpoint predicts that foldable phones will gain popularity, expecting over 1 million shipments in 2024.
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