India’s smartphone shipments dipped to about 31 milion items within the January-March quarter, thereby recording the steepest fall of 19 % within the first quarter on year-over-year foundation, market analysis agency Counterpoint stated on Thursday.
Cellphones priced under Rs. 30,000 apiece recorded a pointy decline whereas cargo within the premium and extremely premium class registered 60-66 % improve.
“This was the best ever Q1 decline seen by India’s smartphone market, apart from being the third consecutive quarterly decline. Sluggish demand, excessive stock build-up carried over from 2022, rising shopper desire for refurbished telephones and pessimistic channel view of the market contributed to this decline,” Counterpoint’s market monitor service report said.
5G smartphones’s contribution to complete smartphone shipments reached a report of 43 %.
“With a 20 % share, Samsung led the Indian smartphone marketplace for the second consecutive quarter. It was additionally the highest 5G model,” the report stated.
Samsung’s new 5G-capable A sequence carried out effectively within the offline market, contributing 50 % of the shipments.
Samsung’s ultra-premium phase (priced above Rs. 45,000) grew 247 % YoY in March 2023 quarter pushed by the profitable launch of the S23 sequence and financing choices, the report stated.
Apple grew 50 % YoY and purchased a 6 % share in March 2023 quarter.
Apple maintained its lead within the general premium phase (Rs. 30,000) in addition to within the ultra-premium phase (above Rs. 45,000) with 36 % and 62 % shares, respectively.
The cargo of the iPhone maker was fuelled by its new financing scheme with HDB Monetary Providers and promotions on the most recent iPhone 14 sequence in offline channels.
“Premiumization pattern is turning into stronger with every passing quarter. The premium phase’s share nearly doubled within the first quarter of 2023 in comparison with the primary quarter of 2022,” Counterpoint senior analysis analyst Prachir Singh stated.
Singh stated affordability is the important thing right here as extra monetary schemes have been being launched, like Apple’s ‘no-cost EMI with zero down fee’ gives on the most recent premium phase, improve in trade-in gives and push from retailers.
“The premium phase’s development is decreasing the mid-tier share as shoppers are upgrading to higher-priced smartphones,” Singh stated.
Cell phone worth within the vary of Rs. 20,000-30,000 recorded a 33 % fall in cargo, Rs. 10,000-20,000 phase registered a 34 % decline and telephones priced under Rs. 10,000 recorded a 9 % decline in cargo on YoY foundation.
“We’re observing a change in shopper behaviour – demand is now concentrated round promotional intervals. The start of the quarter noticed a surge in demand throughout channels across the Republic Day gross sales interval. Nevertheless, demand dropped considerably after the gross sales interval. Channel gamers at the moment are focussing on eliminating present stock as an alternative of making a recent stock of recent fashions,” Counterpoint senior analysis analyst Shilpi Jain stated.
She stated the quarter’s silver lining got here from 5G smartphones, whose contribution (43 %) crossed 40 % for the primary time, registering a 23 % development YoY as shoppers stored upgrading to 5G units.
“We consider these conditions will stay related within the second quarter of 2023 as effectively with development coming again within the second half of the 12 months owing to quicker 5G upgrades, easing macroeconomic stress and festive season,” Jain stated.
Vivo additionally maintained its second place through the reported quarter with a 17 % market share regardless of a 3 % YoY decline in cargo.
Xiaomi skilled a 44 % YoY drop from first quarter 2022, falling to the third spot through the reporting quarter with a 16 % share.
“The decline was because of weak demand within the sub-Rs. 10,000 phase, extra dependence on on-line channels even when demand is increased in offline channels, and a complicated portfolio. The Redmi Note 12 sequence acquired a optimistic response from shoppers, contributing to over 14 % of Xiaomi’s complete shipments,” the report stated.
OnePlus was the quickest rising model with 72 % YoY development within the March 2023 quarter.
“Amongst native manufacturers, Lava did effectively with its refreshed portfolio within the sub-Rs. 10,000 phase. Lava continues to supply the most affordable 5G smartphone (Blaze 5G). It was additionally the third fastest-growing model in Q1 2023 with 29 % YoY development,” the report stated.
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