India scored a remarkable 20 per cent rebound in the smartphone market shipping 38.9 million units in Quarter 4 of 2023, market analyst Canalys reported.
The ramped up sales did not however offset the slowdown in previous quarters, which meant an overall decline of 2 per cent in smartphone shipments in 2023, as compared to previous year.
The high sale in Q4 was attributed to an increased demand of smartphones in the festival season, the agency said.
Courtesy: Canalys
The report stated, "The market demonstrated resilience, thanks to improved consumer confidence in the latter part of the year, and despite vendors facing inventory challenges, minimal inflation improvements and fluctuating demand for most of the year."
In the last quarter of 2023, Samsung stayed in the top spot hogging 20 per cent share of the market and sending out 7.6 million phones.
Xiaomi came in second, shipping 7.2 million units, and Vivo got the third position with 7 million units. The fourth and fifth spots went to Realme and OPPO (excluding OnePlus), which shipped 4.5 million and 3.7 million units, respectively.
Brands like Xiaomi and Realme had the biggest share of sales in physical stores in the last quarter. Xiaomi made its products available both online and offline, and this helped it sell more in physical stores than ever before. Realme too sold devices equally in both online and offline stores.
Courtesy: Canalys
Sanyam Chaurasia, Senior Analyst at Canalys speculated rally to continue in the election year.
"The premium segment witnessed robust growth, thanks to easy financing options, incentive schemes for retailers and rising disposable income," he said.
Canalys predicted a mid-single-digit growth for the Indian smartphone market in 2024, primarily fuelled by the affordability of 5G technology and the replacement cycle following the pandemic.
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