2024-01-21 03:10:00
Earlier this week, research firm Canalys published an article showing the changes that have reshaped the Indian smartphone market over the past year. With 20% year-on-year growth last quarter, the world’s second-largest smartphone market (493 million units estimated in 2021, after China’s 954 million and the 274 million smartphones estimated to have been used in the United States the same year, according to Statista) also saw two drops of more than 10% from Xiaomi and Realme) also recorded two drops of more than 10% from Xiaomi and Realme.
While emphasizing the need to manage rising costs, Sanyam Chaurasia, an analyst at Canalys, says the firm “expects the Indian smartphone market to see mid-single-digit growth in 2024, driven by affordable 5G and the replacement cycle of the pandemic period” During the year 2023, the 148.6 million units sold in India were not enough to ensure growth, despite the massive jump in the 4th quarter mentioned earlier. However, the 2% drop cannot be considered a disaster either.
Looking at the last quarter of 2023 and full year performance, the numbers are as follows:
- Samsung : 7.6 millions, 28,4 millions
- Xiaomi : 7,2 millions, 25,1 millions
- Vivo : 7,0 millions, 26,1 millions
- Realme : 4,5 millions, 17,4 millions
The numbers above translate to quarterly growth values of 14%, 31%, 10% and even 69%, which is huge, but the annual numbers paint a different picture: 1% decline for Samsung, 3% growth for Vivo, 15% drop for Xiaomi, and a drop of 16% for Realme. That can all change this year, as the rounded figures for the market shares of the most popular smartphone brands in India in 2023 are almost tied: 19%, 18% and 17%. Finally, it is worth mentioning that Apple did not enter the top 5, remaining in the “Others” category. On the plus side, the iPhone 15 is quite popular in India as well and can currently be purchased on Amazon for ₹102,999 (6% discount, compared to ₹109,900), a price valid for all color choices of the 512 GB model.
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#Samsung #beat #Xiaomi