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.
...Existing Subscriber?
Sign in to continue reading
New to Counterpoint?
Register to our service
Category
Contact us
Author
Shilpi Jain
Shilpi is a Senior Analyst with Counterpoint Technology Market Research, based out of Gurgaon. She has more than 9 years of work experience in consulting and market research field. She closely tracks mobile devices and ecosystem at Counterpoint and led various research and consulting projects.
She holds a Master's in Business Administration from Fore School of Management, specializing in Finance, and a Bachelor's degree in Economics from Daulat Ram College, Delhi University.
