In Q4 2023, the smartphone market in India grows: The performance of brands
After five consecutive quarters, there has apparently been increase in the Indian smartphone market. As to a research published by Canalys, in the fourth quarter (Q4) of 2023, brands delivered 38.9 million smartphones, representing a 20% year-over-year rise in the market. Nonetheless, there was a little 2% decline in the smartphone market in India overall in 2023.
The research claims that increased consumer confidence in the latter half of the year allowed the market to demonstrate resilience.
Additionally, the survey said that suppliers dealt with “inventory challenges, minimal inflation improvements, and fluctuating demand” for the most of the year.
The performance of several brands in Q4 of 2023
According to the survey, Samsung, a South Korean electronics giant with a 20% market share after shipping 7.6 million devices, was able to hold onto its position in the market. After Samsung, 7.2 million and seven million smartphones were supplied by Xiaomi and Vivo, two Chinese smartphone manufacturers. Realme and Oppo, excluding OnePlus, shipped 4.5 million and 3.7 million handsets, respectively, to claim the fourth and fifth positions.
How smartphone manufacturers benefited from physical outlets
“In 2023, growing investment in mainline retail space proved beneficial not only for vendors but also allowed the overall market to stabilize,” said Sanyam Chaurasia, senior analyst at Canalys.
According to the research, Q4 2023 witnessed the largest offline shipment share for companies like Xiaomi and Realme. Due to its equal distribution of its models between retail and online channels, Xiaomi emerged as the largest contributor to offline channels during this quarter. The Redmi 12 5G and the most recent Redmi 13C series, both of which have shipped over a million units, helped the company’s offline share.
Realme similarly supplied devices with an equivalent channel contribution. While e-commerce propelled the Narzo series, offline channels remained dominated by the remaining portfolio.
