Despite the Indian smartphone market witnessing its highest-ever Q1 decline in 2023, the 5G smartphone market share increased to 41 percent in Q1 2023, as per a recent report.
CyberMedia Research's India Mobile Handset Market Review Report revealed a 14 percent YoY growth in 5G smartphone shipments, with 34 new 5G launches during the quarter. Samsung was the leader in the 5G smartphone market with a 23 percent market share, followed by Apple with a 17 percent market share.
The report also showed that the feature phone segment also witnessed a 19 percent YoY decline due to increased demand for smartphone upgrades.
Shipra Sinha, Analyst- Industry Intelligence Group, CyberMedia Research (CMR), attributed the decline in smartphone shipments to extended inventory, weakened demand, and inflation.
“Challenging economic conditions and slow demand contributed to a 38 percent YoY decline in the affordable smartphone segment (sub-Rs 7,000), a 25 percent YoY decline in the value-for-money smartphone segment (Rs 7,000 - Rs 25,000), and a 23 percent decline in the premium smartphone segment (Rs 25,000 - Rs 50,000).
“However, the Super-premium smartphone segment (Rs 50,000 - Rs 1,00,000) and the Uber premium segment (>Rs 1,00,000) shipments saw remarkable growth of 96 percent and 208 percent YoY respectively,” the report said.
Samsung led the overall smartphone market with a 20 percent market share, followed by Vivo (17 percent) and Xiaomi (16 percent). In the feature phone segment, the 2G and 4G feature phone shipments dropped by 15 percent and 35 percent YoY, respectively.
(Source: CyberMedia Research)
Apple maintained its steady growth with a seven percent market share in the smartphone market in Q1 2023, recording a significant YoY increase of 67 percent in its shipments.
CMR estimates that market conditions will remain moderate with muted growth in Q2 2023, and smartphone shipments for the entire year are projected to grow in single digits YoY.
