Indian Smartphone Market Sees 43 mn Shipments in Q3 2023, Samsung Tops the List

The Indian smartphone market, while facing a slight year-on-year decline, has showed signs of recovery in Q3 2023, according to research by Canalys.
Share of smartphone vendors in India Q3 2023A total of 43.0 million smartphone shipments were recorded during this period. This apparent recovery can be attributed to improved consumer conditions and the introduction of new devices by various manufacturers.

Samsung Leads the Pack

Samsung maintained its position as the top smartphone vendor in India during Q3 2023, capturing 18 percent of the market share with 7.9 million units shipped. This success can be attributed to its well-received S23 series and competitive pricing during festive sales.

Xiaomi Climbs to Second Place

Xiaomi, bolstered by the launch of affordable 5G models, secured the second position with 7.6 million units shipped. The Redmi 12 5G and POCO M6 Pro 5G contributed significantly to their rise in market share.

Vivo Takes the Third Spot

Vivo slipped to the third spot with 7.2 million units shipped, but remained a key player in the Indian smartphone market.

Realme and OPPO Complete the Top Five

Realme and OPPO (excluding OnePlus) rounded out the top five with 5.8 million and 4.4 million units shipped, respectively, showcasing a competitive market environment.
India smartphone market Q3 20235G Dominates the Market

The introduction of budget-friendly 5G models contributed to the market’s growth, with brands like Xiaomi and Realme expanding their 5G portfolios. Online channels played a significant role in the success of these models.

Premium Segment Thrives

The premium segment witnessed robust growth during the quarter, driven by Samsung’s S23 series and attractive deals on older-generation Apple iPhones. Additionally, HONOR made a comeback through a strategic joint venture with HTech and launched its HONOR 90 model.

Growth for OnePlus, Infinix, Tecno, and Motorola

OnePlus, Infinix, Tecno, and Motorola experienced strong growth due to expanded channel presence and increased product offerings. Some of them also benefited from momentum carried over from the chip shortage period of 2021.

Challenges Persist

Challenges remain for smartphone vendors, including managing inventory, maintaining profitability, and navigating macroeconomic headwinds. OPPO has shifted its focus towards launching higher-priced models to prioritize profit margins, while Samsung streamlined its product portfolio.

Adapting for Long-term Success

To succeed in the long term, smartphone brands must focus on building strong distribution networks, increasing local manufacturing integration, and contributing positively to the economy. These strategies will be crucial in a dynamic and highly competitive market.

The Q3 2023 results indicate that despite challenges, the Indian smartphone market is showing resilience and adaptability, offering promising opportunities for both consumers and manufacturers alike.