In the third quarter of the year, India’s smartphone market witnessed a 3% decrease in overall shipments.
Nevertheless, Samsung, the South Korean consumer electronics giant, successfully held onto its premier position, shipping a staggering 7.9 million smartphones, accounting for an impressive 18% market share.
Galaxy S23 Series Boosts Samsung’s Dominance
The remarkable feat for Samsung was attributed to its strategic launch of the Galaxy S23 series earlier in the year.
This move significantly bolstered the company’s market share and allowed it to retain its leading position in the Indian smartphone market.
Xiaomi Claims Second Place
Following Samsung, Chinese smartphone manufacturer Xiaomi secured the second position in the market, holding approximately 18% of the market share.
The brand’s focus on affordable 5G smartphones was a key factor in its success.
Vivo, Realme, and Oppo Follow Suit
Rounding out the top five were Chinese companies Vivo, Realme, and Oppo, securing the third, fourth, and fifth positions, respectively, in terms of market share.
These players in the market have been promoting affordable 5G smartphone options in anticipation of upcoming festival sales.
Festive Sales and Improved Sentiment to Drive Market Recovery
Despite the third-quarter decline, industry analysts from Canalys anticipate a boost in smartphone sales due to forthcoming festival sales and an improved consumer sentiment.
According to their report, approximately 43 million smartphones were shipped in India during the third quarter, marking a 3% decline compared to the previous year.
Premium Smartphone Segment Flourishes
An area of notable growth in the Indian smartphone market during the third quarter was the premium segment.
Devices like Apple’s iPhone 13 and iPhone 14, along with Samsung’s Galaxy S23 series, experienced a rapid increase in sales.
Outlook for Market Recovery and Challenges Ahead
Canalys experts predict a market recovery as consumer sentiment improves and new smartphones hit the market. However, they caution that global economic challenges could pose potential hurdles.
To maintain their market share, smartphone manufacturers will need to continually enhance their product portfolios and remain competitive in the evolving landscape.