The smartphone market in India has apparently taken a hit in the first quarter of this year. The country has seen a noticeable fall in shipments over the same period year on year, so here are all the details.
This news arrives from the latest report from Canalys. The report claims that the Indian smartphone shipments have dropped by a sizeable 20 percent year on year in Q1 2023. Interestingly, this decline follows after the modest 6 percent drop back in the fourth and final quarter of last year. The report adds that the Indian smartphone market has seen the hit due to issues with market demand and stock build up has also affected various sales channels.
But despite the decline, the South Korean tech giant, Samsung, managed to retain its market leader with a notable 21 percent market share by shipping around 6.3 million units in Q1 2023. On the other hand, Oppo and Vivo took the second and third spots respectively, with both companies accounting for around 18 percent market share. Xiaomi came in fourth with a 16 percent market share, while Realme came fifth with a 9 percent market share.
The Canalys report noted that consumers in India are more comfortable with spending more on premium smartphone models. This means that brands would have to adapt and make its devices be great value for money. According to Sanyam Chaurasia, Analyst at Canalys, “India’s market struggles but vendors remain optimistic. They invest in retail, manufacturing, local sourcing, and R&D to align with the government and consumers. They aim for long term market success.”
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(Via)
