edited by: Shaurya Sharma
Last Update: February 11, 2023, 12:23 IST
In the premium market segment of $500 and above, Apple maintains its lead with 60% market share.
According to IDC, Indians are buying fewer smartphones as smartphone shipments in India are set to decline by a sharp 27% in the fourth quarter of 2022, reaching 29.6 million units as compared to 40.6 million units in the same period last year Is.
With smartphones becoming increasingly common in appearance, reaching the proverbial ‘saturation point’ in terms of performance and increasing average selling prices (ASPs), their demand in India has declined.
According to IDC, smartphone shipments in India experienced a sharp decline of 27% in Q4 2022, reaching 29.6 million units as compared to 40.6 million units in the same period last year, with the decline being attributed to rising inflationary pressures.
According to IDC, the smartphone shipment market faced challenges despite various promotions and deals. High inventory levels limited new shipments after the Diwali festival. In the sub-$300 (roughly Rs. 25,000) price range, there was a 15% decrease in shipments.
However, the mid-premium and premium segments of $300-500 and above $500 (Rs 41,000) are expected to see growth of 20% and 55%, respectively, during the year 2022.
Additionally, the entry-level smartphone market, which includes phones priced below Rs 12,500, saw a decline from 54% to 46% over the previous year.
In the premium market segment of $500 and above, Apple maintains its lead with 60% market share. The iPhone 13 was the third most shipped device in 2022, while Samsung had 21% market share.
Xiaomi shipped a total of 30.3 million smartphones with a market share of 21% – a decline of 4.1% from 2021, but remains the market leader in India.
Overall, annual smartphone shipments stood at 201 million, representing a 12% decline in the Indian market.
“Feature phone shipments were 57 million, a decline of 18%. The IDC report stated that Samsung, Xiaomi and Transsion were the leading companies in the total mobile phone market.
“We should expect a difficult and prolonged recovery for the smartphone market, as rising prices and concerns about excess inventory will continue to be concerns at least until the first half of 2023. Sellers and channel partners need to rethink their plans for their entry level. The portfolio drives the affordability of 5G devices with attractive trade-in programs and financing plans,” said Navkendar Singh, Associate Vice President, Devices Research, IDC.
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