- The Indian smartphone market has seen a modest 0.4 percent YoY increase in overall shipments in Q3 2023.
- Samsung secured the top place with a market share of 16.2 percent.
- Xiaomi currently holds a market share of 11.7 percent compared to 17.4 percent in Q2 2022.
IDC (International Data Corporation), which is a leading tech media, data and marketing services company, has released insights on the Indian smartphone market for the third quarter. The analysis showed that the Indian smartphone market has seen a modest 0.4 percent YoY increase in overall shipments in Q3 2023. As per the report, Samsung secured the top place with a market share of 16.2 percent.
Indian smartphone market for Q3 2023
- Though Samsung led the smartphone market in India in Q3, the company witnessed a decline of 12.2 percent compared to the same quarter in 2022, as per IDC.
- Samsung is followed by Realme with a 15.1 percent market share, which is a healthy 6.5 percent increase from 14.2 percent in Q3 2022.
- Vivo is at the third spot with a market share of 13.9 percent, compared to 12.3 percent in Q3 2022.
- Interestingly, Xiaomi’s market share declined by a whopping 32.4 percent in Q3 2023. The company currently holds a market share of 11.7 percent compared to 17.4 percent in Q2 2022.
- This is also the highest a brand has dropped its market share in a quarter.
- OPPO too has witnessed a drop of 20.2 percent in Q3 2023. The company currently has a market share of 9.9 percent.
- OnePlus and POCO have a market share of 6.2 percent and 5.7 percent, respectively. Both brands witnessed up to a 50.8 percent increase in shipments.
- Next comes Apple with a market share of 10.5 percent compared to 5.0 percent in Q3 2022.
- Infinix and Tecno are in ninth and tenth spots with 3.1 percent and 2.9 percent market shares, respectively.
- The “others” category accounted for 9.8 percent of the market.
As said, Samsung remained at the top spot despite seeing a dip in the market share compared to the same time last year. Xiaomi and OPPO are the top two brands which have seen a significant drop in the market share. Despite having an aggressive pricing strategy, Xiaomi has witnessed a drop in market share and the brand will look to get back in the game. OnePlus and POCO have seen a robust growth of over 50 percent.
The current Q4 quarter should lead to healthy growth thanks to festival sales. We should know these results soon.