According to market research company Counterpoint, India’s smartphone shipments plummeted to more than 31 million devices in the January-March quarter, making it the first quarter with the biggest year-over-year loss of 19 percent.
Shipments of mobile phones under Rs 30,000 each saw a steep fall, while those in the premium and ultra premium categories increased by 60–66%. This was the third consecutive quarter in which the Indian smartphone market saw a fall; it was also the greatest quarterly decline ever. This reduction was caused by sluggish demand, significant inventory build-up from 2022 that was carried over, a rise in customer preference for used phones, and a negative channel perspective of the industry, according to Counterpoint’s market monitor service report.
The share of 5G devices in overall smartphone sales hit a historic high of 43%. “Samsung dominated the Indian smartphone market for the second straight quarter with a 20 percent share. According to the survey, it was also the leading 5G brand.
With 50% of the sales in the offline market, Samsung’s new 5G-capable A series did well. According to the research, Samsung’s ultra-premium segment—those products priced over Rs 45,000—grew 247 percent year over year in the March 2023 quarter because to the S23 series’ strong introduction and financing options. Apple increased its annual revenue by 50% and increased its market share to 6% in the third quarter of 2023. With 36 percent and 62 percent of the market share in the general premium sector (above Rs 30,000) as well as the ultra-premium segment (above Rs 45,000), respectively, Apple maintained its dominance.