Samsung, Vivo, and Xiaomi led the smartphone market in Q2 2023. Value-for-money phones had a 72 per cent share, but shipments declined by 16 per cent year-on-year. Affordable phones priced below Rs 7000 grew 51 per cent year-on-year, while Premium phones grew 9 per cent year-on-year. Super-premium and uber-premium saw remarkable growth of 95 per cent and 133 per cent year-on-year respectively, increasing the smartphone average selling price by 17 per cent.
In the smartphone market, Samsung held the top position with an 18 per cent market share, and also led the Premium smartphone segment (INR 25,000-INR 50,000) with a 27 per cent share.
Vivo followed closely behind with a 15 per cent market share, and its 5G smartphone shipments were primarily driven by the vivo T1, vivo T1 Pro, vivo V23e, and vivo Y75 5G models, which accounted for 48 per cent of its total 5G shipments.
Xiaomi ranked third with a 15 per cent share in the smartphone leaderboard, with the Redmi 12C, Redmi A2, and Redmi A1+ being the top three models. Poco, a sub-brand of Xiaomi, experienced a 19 per cent year-on-year growth in its shipments.
Realme climbed to the fourth position with a market share of 12 per cent, although its shipments witnessed a year-on-year decline of 30 per cent. The top three models shipped by Realme were the Realme C55, Realme N53, and Realme Narzo N55.
OPPO held the fifth position with a market share of 10 per cent, with its top three shipped models being the OPPO A16e, OPPO A16k, and OPPO F21 Pro 5G.
OnePlus recorded a notable 125 per cent year-on-year growth in its smartphone shipments, with the OnePlus Nord CE 3 Lite, Nord CE 2 Lite, and Nord CE 2 accounting for 75 per cent of its smartphone shipments.
Apple captured a 5 per cent market share in the smartphone market during Q2 2023, recording a significant year-on-year increase of 62 per cent in its shipments. Apple was the top contributor in the Premium segment (>INR 25,000) with a 25 per cent share.
The Transsion Group brands, which includes Itel, Infinix, and Tecno, recorded an overall (including smartphones and feature phones) shipments increase of 41 per cent year-on-year, with Tecno and Infinix market shipments recording 46 per cent and 38 per cent year-on-year growth, respectively.
Based on CMR’s projections, the smartphone market is expected to experience growth in the second half of the year, resulting in a single-digit increase in overall shipments for the year.
In anticipation of the festive season, Q3 is expected to see a rise in smartphone shipments.
Menka Kumari, an analyst from CyberMedia Research, predicts that the market will rebound due to increased consumer spending and the emergence of 5G and foldable phone technology.