Premium segment growth and 5G upgrades caused 25% YoY smartphone growth in India in Q4 2023. Samsung led with 18%, Vivo and OnePlus followed. Premium sector growth was 64% YoY due to easy financing. Retail stores and larger-format focus helped Apple grow.
According to reports, the shipment of smartphones in India stayed flat at 152 million in 2023, although Apple topped 10 million handsets and topped revenue for the first time.
The latest Counterpoint Research research states:
Samsung topped the chart with 18% share in 2023 for the first time since 2017.
Vivo ranked second with 17% share in 2023 and led the affordable premium market (Rs 30,000–Rs 45,000) with 33%.
Xiaomi finished third in 2023 but led Q4 with 18.3%.
Offline growth and a cheaper premium product lineup (Rs 30,000–Rs 45,000) helped OnePlus grow 33% YoY in 2023.
India's 5G smartphone shipment share rose 66% YoY to 52%.According to Counterpoint senior research analyst Shilpi Jain, premium segment growth and 5G upgrades boosted India’s smartphone market 25% YoY in Q4 2023 after a year of decline.
Last quarter (October–December 2023) inventory levels were higher than last year, preparing for expansion next year.
Jain predicted 5% YoY market growth next year due to premiumization, 5G diffusion in lower price bands, and improving macroeconomic conditions.
Simple financing helped consumers buy higher-priced cellphones, driving premium category growth of 64% YoY.
Apple increased offline shipments by opening stores and pushing LFR (large-format retail) through regular promotions. Higher trade-in values also drew customers to iOS, said research analyst Shubham Singh.
Conclusion
In 2023, India’s smartphone shipments stayed flat at 152 million devices, with Apple topping 10 million sales and revenue for the first time. Samsung led 18%, Vivo 17%, Xiaomi 18.3%. Offline expansion and cheaper premium products helped OnePlus grow 33% YoY in 2023. India’s 5G smartphone shipment share rose 66% YoY to 52%. Premium sector growth was 64% YoY due to easy financing.
