India is currently one of Apple’s top five smartphone markets in the world
According to a report by Counterpoint Research, India has now become one of Apple‘s top five markets globally. Apple continues to dominate the ultra-premium smartphone segment (above Rs 45,000) in India, holding a 59% share in the second quarter of 2023. The premium smartphone segment in India experienced significant growth of 112% year-on-year in the April-June period and now contributes a record 17% to the overall smartphone shipments in the country.
In the overall Indian smartphone market, Samsung maintained its top position for the third consecutive quarter, holding an 18% share. Samsung also surpassed Apple to reclaim its top spot in the premium smartphone segment (above Rs 30,000) after a year with a 34% share.
Vivo retained its second position and was the only brand among the top five to experience annual growth. On the other hand, OnePlus was the fastest-growing brand in India’s smartphone market in Q2, registering a remarkable 68% year-on-year growth.
During the second quarter, smartphone Original Equipment Manufacturers (OEMs) witnessed an improvement in inventory and demand ahead of the upcoming festive season. Aggressive measures were taken by OEMs and channels to clear existing inventory through various sales and promotions.
The report predicts that brands will introduce interesting launches and offers to attract consumers during the festive season, with 5G expected to be a significant growth driver.
In terms of specific brands, Vivo’s strong offline presence, the growth of its sub-brand iQOO in the online segment, and multiple launches across price tiers contributed to its growth. OPPO emerged as the leading brand in the upper mid-tier range (Rs 20,000 to Rs 30,000) segment with a market share of 21%.
Additionally, the report highlights that 5G smartphone shipments in India surpassed 100 million cumulative units in Q2 as 5G upgrades gained momentum, driven by the expansion of 5G networks and the availability of affordable devices.
