The Indian smartphone market has a new numero uno. According to a report by
IDC
, Chinese smartphone brand Vivo has emerged as the number one smartphone brand for Q2 2023.
Samsung
, which held the top spot earlier, is now a close number two.
Xiaomi
, Realme decline
As per the report, Vivo garnered 16% market share in the second quarter of 2023. Compared to last year, Vivo’s market share grew by 7.4%. Vivo (excluding iQOO) emerged as the market leader as it drove its growth for its V series models, as per IDC.
Samsung took the second spot with 15.7% market share but saw a 6/2% decline compared to last year. Realme is at number three with 12.6% but was down by 29.8% compared to last year. Xiaomi, which once reigned supreme in the Indian market, is now the fifth largest brand. The Chinese company’s woes can be captured by the 39.8% decline in comparison with last year’s numbers. Oppo took the fourth spot.
Overall, the India smartphone market saw a 10% year-over-year decline as a total of 64 million units were shipped. However, compared to the previous quarter, the market grew by 10%. “The vendors and channels focused on clearing the inventory by offering discounts, special schemes, and price drops before the start of the festive season in the second half of the year,” according to the report.
The average selling price in this quarter was $241 (which is close to Rs 20,000). The demand for premium phones (more than Rs 50,000) saw a big jump and grew by 75% year-over-year. 9% of the total smartphones shipped were accounted by premium phones
“Consumers are opting for premium offerings, driven by easy and affordable financing options. IDC expects this growth momentum to continue in the upcoming months in 2023,” said Upasana Joshi, research manager, client devices, IDC India.
