In 2023, India’s smartphone market experienced a slight decrease in shipments, totaling 148.6 million units, a 2% drop from the previous year. However, the final quarter showed a promising 20% year-on-year growth with 38.9 million units shipped. This overall stability was attributed to strong demand during the festive season.

2023 smartphones
Credit: MKBHD

India’s Smartphone Market Overcomes Obstacles in 2023

Samsung led the market in the fourth quarter with a 20% share, shipping 7.6 million units, followed by Xiaomi with 7.2 million units. Vivo, Realme, and OPPO were also among the top five brands. For the entire year, Samsung remained at the top, although its market share slightly declined by 1%. Vivo and Xiaomi followed, with Vivo showing a small growth and Xiaomi experiencing a decline. Realme and OPPO completed the top five, both seeing a decrease in their shipments.

Indian smartphone market

The market’s resilience in 2023 was bolstered by improved consumer confidence and strong performance during the festive season, despite facing challenges like inventory issues and inflation. A noteworthy trend was the significant growth in the premium smartphone segment, driven by brands like Apple and Samsung offering new models and attractive financing options.

Canalys Senior Analyst Sanyam Chaurasia highlighted the success of brands like Xiaomi and Realme in expanding their offline presence and balancing their shipment channels. The market saw a rise in offline shipments for these brands, contributing significantly to their overall sales.

5G smartphones played a crucial role in the market, with affordable models driving growth. Canalys anticipates that the Indian smartphone market will continue to grow in 2024, fueled by reasonably priced 5G phones and a replacement cycle from the pandemic period. However, rising material costs pose a challenge for manufacturers.

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