New Delhi, August 4 (SocialNews.XYZ) The Indian smartphone market declined by 6 per cent (year-over-year) in the second quarter (Q2) of 2023, while the overall mobile market in India declined by 2 per cent (year-over-year), with 5G smartphone shipments growing 45 per cent (year-over-year), a new report showed on Friday.
According to CyberMedia Research (CMR), Samsung (18 per cent), Vivo (15 per cent) and Xiaomi (15 per cent) captured the top three spots in the smartphone leaderboard in Q2 2023, followed by realme (12 per cent) and OPPO (10 per cent).
With a 24 per cent market share, Samsung dominated the 5G smartphone market in the country, followed by OnePlus with a 20 per cent market share.
“Despite the overall decline in smartphone shipments, the 5G smartphone segment showed promising performance capturing 47 per cent market share (up from 31 per cent in Q2 2022). The overall feature phone segment grew 9 per cent (year-over-year),” said Shipra Sinha, Analyst-Industry Intelligence Group, CMR.
While the value-for-money smartphone segment (Rs 7,000-Rs 25,000) was the largest contributor with a 72 per cent share, its shipments declined by 16 per cent (year-over-year) due to slow demand. The affordable smartphone segment (less than Rs 7,000) recorded significant growth of 51 per cent (year-over-year), driven by Redmi A2 and Infinix 7 HD, according to the report.
The premium segment (Rs 25,000-50,000) recorded 9 per cent (year-over-year) growth, the super-premium smartphone segment (Rs 50,000-Rs 1,00,000) and the uber-premium segment (greater than Rs 1,00,000) shipments saw remarkable growth of 95 per cent and 133 per cent (year-over-year), respectively, leading to the increase in overall smartphone ASP by 17 per cent (year-over-year).
Moreover, the report said that the feature phone market shipments recorded 9 per cent (year-over-year) growth.
Although 2G feature phone shipments remained stable, 4G feature phone shipments recorded a remarkable 108 per cent (year-over-year) growth primarily driven by notable contributions from Nokia 8000 4G, Nokia 106 4G and itel Magic X Pro.
Further, the report mentioned that the market conditions are expected to improve in H2, and the overall smartphone shipments for the entire year are projected to witness single-digit per (year-over-year) growth.
“The smartphone market is set to bounce back in the second half of 2023, thanks to the festive season and increased consumer spending. The rise of 5G and foldable phones will also boost the market's recovery," said Menka Kumari, Analyst-Industry Intelligence Group, CMR.
Source: IANS
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