India’s premium smartphone shipments grew 112% YoY in Q2 as overall demand improved
The Hindu
Q2 2023 smartphone shipments in India declined 3%, but pent-up demand and improving macroeconomic conditions helped the market close at less than expected decline. Premium segment grew 112% YoY, Samsung surpassed Apple in the segment.
Smartphone shipments in India declined by 3% year-over-year (YoY) in Q2 2023, down from 19% in Q1. Though the decline was the fourth consecutive quarterly decline, pent-up demand and improving macroeconomic conditions helped the market close at less than expected decline.
Meanwhile, the premium segment in the country grew by 112% YoY in Q2 2023, contributing a record 17% to overall shipments, Counterpoint, a global analysis firm, said in a blog post.
Aggressive measures were implemented by OEMs as well as channels during the quarter to clear existing inventory through multiple sales and promotions. At the consumers’ end, falling inflation and better growth prospects along with 5G upgrades played a major role as OEMs kept launching new devices in the ₹10,000-15,000 segment for wider reach, senior research analyst Shilpi Jain said.
In the premium segment, Samsung surpassed Apple, with an 18% share, for the third consecutive quarter even as the iPhone manufacturer led the ultra-premium segment with a 59% share. Making India among its top-five markets.
(For top technology news of the day, subscribe to our tech newsletter Today’s Cache)
Vivo, while maintaining its share in the market, became the only brand amongst the top five brands to witness YoY growth in the country. OnePlus was the fastest-growing brand with 68% YoY growth.
Additionally, 4G feature phone share in the overall phone shipments increased to 10% in Q2 2023 driven by the JioBharat and itel Guru series’ launch. The feature phones market share is further expected to increase to 18% by the end of 2023 on the back of growing demand for UPI, and multiple launches from OEMs.
While residents are worried over deaths due to diarrhoea in Vijayawada, officials still grapple to find the root cause. Contaminated drinking water supplied by VMC officials is the reason, insist people in the affected areas, but officials insist that efforts are on to identify the disease and that those with symptoms other than diarrhoea too are visiting the health camps.