Samsung regained its top position in India's smartphone market in 2023, with Xiaomi mounting a comeback in the fourth quarter. iPhone shipment surpassed 10 million units in India, helping Apple to capture the top position in smartphone revenue during the period.
According to Counterpoint's market tracker, 152 million smartphones were shipped to India in 2023, which is about the same level as the previous year. With an 18% share in the market, Samsung held first place, followed by Vivo and Xiaomi for the full year. Regarding the fourth quarter, Xiaomi led the market with an 18.3% share, followed by Vivo's 17.3%. Samsung has reclaimed the top position, which it had lost to Xiaomi in 2017, marking the first time since then.
Notably, Counterpoint reported that iPhone shipments exceeded 10 million units due to strong demand for its latest and previous models, securing the top spot in smartphone revenue in 2023.
Shilpi Jain, senior research analyst, said that propelled by the premium segment's expansion and increased adoption of 5G upgrades, India's smartphone market experienced a 25% year-on-year growth in the fourth quarter, rebounding after a year of decline. He said the extended festive season played a significant role, with steep discounts, easy financing options, and attractive promotions driving consumer demand. Throughout the year, many OEMs focused on bringing 5G technology to the lower segment, leading to a 5G smartphone share of 52% for overall smartphones.
Counterpoint expects a 5% growth in smartphone shipment in 2024, driven by premiumization, the integration of 5G in affordable models, and improved macroeconomic conditions.
Besides, Counterpoint said incorporating generative AI in smartphones is expected to contribute to developing more personalized content and smarter digital assistants, and foldable smartphones will become more popular as more OEMs launch more devices in the category.
Source: Counterpoint, January 2024
Source: Counterpoint, January 2024
