Overview:
India’s smartphone shipments declined 3% YoY in Q2 2023. Base effect, pent-up demand and improving macroeconomic conditions helped the market close at less than the expected decline. “In Q2 2023, OEMs saw improvement in the inventory and demand situation ahead of the coming festive season. Aggressive measures were implemented by OEMs as well as channels during the quarter to clear existing inventory through multiple sales and promotions.
The top five smartphone brands contributed 69% share in the overall shipments in June 2023. Samsung led the Indian smartphone market in June 2023 with consistent 18% market share. vivo maintained its second place in the market with a 17% share. The premium market (>$400) continues to grow as we see decent demand coming in from Tier-2 cities now. This trend is being pushed due to the increasing financing schemes in the country. Indian smartphone market ASP grew 18% YoY and reached at $262 (Retail) in Jun 2023. The reason behind the ASP growth was growth in affordable premium ($400-$650) and ultra-premium (>$650) price segments shipments.
The offline channel captured 59% share in Jun 2023. Brands like Xiaomi and realme have started focusing on offline channels as well and as a result of this multi-channel approach offline channel is gaining share. Online channel shipments decreased by 8% YoY in Jun 2023. However, with upcoming Prime Day Sale in July and Independence Day Sale in Aug, online channels share might improve
Table of Contents:
- Market Overview
- Key OEM Strategies
- Pricing Analysis
- New launches Analysis
- Spec Analysis
- Channel Analysis: E-commerce and Offline
- Major OEM Promotions
- Key Market Trends
- Market Survey
- Make in India
Number of Pages: 109
Publication Date: August 2023