India’s smartphone export growth is primarily driven by Apple and Samsung, helping achieve a record-breaking export value of almost US$4 billion in the first quarter of 2023, according to Canalys.
The research group expects modest growth this year, driven by organic growth drivers. However, to stimulate the upgrade cycle, 5G devices and other market drivers must offer compelling utility for consumers, says analyst Sanyam Chaurasia.
As for smartphone sales in India, Canalys says the country’s smartphone market had a tough start to 2023, witnessing the first-ever quarter one shipment decline of 20% year-on-year. The research group says the market is still witnessing uneven demand woes and channels remain vulnerable to stock build-up.
Samsung remained in the top spot in quarter one 2023 with a 21% market share, shipping 6.3 million. OPPO overtook vivo and Xiaomi to reach second place with 5.5 million shipments, driven by successful new product launches. Following closely behind, vivo came third with 5.4 million shipments, as it continued strong momentum in the offline channels. Xiaomi slipped to fourth place, shipping 5.0 million units, while realme maintained fifth place with 2.9 million shipments as the online channel remained muted.
Apple isn’t in the top five of the best-selling smartphone makers in India. However, this could improve as the tech giant’s “new offline stores staffed by expert employees will further enhance its brand experience and position,” says Chaurasia.
Apple shipped about 6.5 million iPhones in India in 2022, compared to around 50 million each year in both the U.S. and China, according to Counterpoint Research. The research group’s Neil Shah said India “has the potential to reach that scale” in the coming years.
But India is undergoing a “premiumification of market,” he told CNBC. Smartphones priced above $400 now account for 10% of the total volumes of handsets shipped versus 4% before the pandemic, according to Shah. He said this category of smartphones accounts for 35% of total smartphone market revenue.
Article provided with permission from AppleWorld.Today