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India’s smartphone shipments witnessed a notable 25 per cent year-over-year development within the fourth quarter (This autumn) of 2023, rebounding after a year-long decline, a brand new report by a market analysis agency has stated. In keeping with Counterpoint Analysis’s Month-to-month India Smartphone Tracker, smartphone shipments remained flat final 12 months at 152 million models as the primary half of the 12 months was difficult attributable to macroeconomic turbulence, giving solution to low demand and a list build-up. Exceeding the 10-million mark when it comes to shipments, iPhone maker Apple secured the highest place in income for the primary time-ever in a calendar 12 months.
With an 18 per cent market share, Samsung took the highest spot in 2023, for the primary time since 2017, adopted by Vivo on the second spot with a 17 per cent share, which additionally led the reasonably priced premium phase (Rs 30,000-Rs45,000) with a 33 per cent market share.
The market began recovering within the second half of the 12 months supported by 5G upgrades and better-than-expected festive gross sales.
“Pushed by the premium phase’s development and 5G upgrades, India’s smartphone market grew 25% YoY in This autumn 2023 after declining for a 12 months. The elongated festive season additional aided this development, as the provision of steep reductions, simple financing schemes and profitable promotions boosted demand. For a lot of OEMs, the important thing focus in the course of the 12 months was on taking 5G to the decrease phase pushed by a shift in shopper preferences,” Shilpi Jain, Senior Analysis Analyst at Counterpoint, stated in a press release.
“5G smartphone cargo share crossed 52% in 2023, rising 66% YoY. The final quarter (October-December) exited the market with wholesome stock ranges in comparison with final 12 months, setting the best tone for development for subsequent 12 months. We imagine the market will develop by 5% YoY subsequent 12 months pushed by premiumization, diffusion of 5G in cheaper price bands and higher macroeconomic circumstances,” Jain added.
Premium Smartphone Phase Shines With Over 60 Per Cent YoY Development
Final 12 months, the premium smartphone phase (above Rs 30,000) skilled a considerable 64 per cent year-over-year development. This surge was pushed by simple financing choices, prompting shoppers to shift to higher-priced smartphones. Financing performed a major function, with one in each three smartphones being bought via this technique.
Apple’s devoted efforts in India additionally performed an important function, surpassing the 10-million-unit milestone in shipments and securing the highest income place in a calendar 12 months for the primary time. This achievement was pushed by robust demand for each the newest and older iPhone fashions. The institution of proprietary retail shops, coupled with a heightened deal with large-format retail (LFR) via constant promotions, contributed to elevated offline shipments. Moreover, the attract of upper trade-in values supplied shoppers with a lovely proposition for transitioning to iOS.
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