India Monthly Smartphone Market Analysis 2023 June

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Aug 4, 2023

Overview:

India’s smartphone shipments declined 3% YoY in Q2 2023. Base effect, pent-up demand and improving macroeconomic conditions helped the market close at less than the expected decline. “In Q2 2023, OEMs saw improvement in the inventory and demand situation ahead of the coming festive season. Aggressive measures were implemented by OEMs as well as channels during the quarter to clear existing inventory through multiple sales and promotions.

The top five smartphone brands contributed 69% share in the overall shipments in June 2023. Samsung led the Indian smartphone market in June 2023 with consistent 18% market share.  vivo maintained its second place in the market with a 17% share. The premium market (>$400) continues to grow as we see decent demand coming in from Tier-2 cities now. This trend is being pushed due to the increasing financing schemes in the country.  Indian smartphone market ASP grew 18% YoY and reached at $262 (Retail) in Jun 2023. The reason behind the ASP growth was growth in affordable premium ($400-$650) and ultra-premium (>$650) price segments shipments.

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Category

Industry

Smartphone

Report Type

Report

Summary

Published

Aug 4, 2023

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