In a dramatic turn of events, Samsung has reclaimed its throne as the smartphone king in India for 2023, toppling Xiaomi’s six-year reign. Despite this, Xiaomi showcased remarkable resilience by maintaining its supremacy in Q4 with an impressive 18.3% market share, courtesy of Redmi and Poco brands.
The overall smartphone shipments for 2023 stagnated at approximately 152 million units. The industry faced a challenging first half, but a spirited recovery in the second half, fueled by 5G upgrades and robust festive sales, breathed life into the market. Notably, Apple achieved a historic milestone by surpassing 10 million shipments in India.
Samsung’s resurgence was attributed to aggressive offline marketing and stellar performance from the A series, while the premium segment adopted a focused strategy. Vivo secured the second spot with its innovative CMF design approach, prominently featuring the vivo V29 series and achieving success with the T series in the offline segment.
Xiaomi maintained its edge in the final quarter by introducing 5G phones in the affordable segment and streamlining its portfolio, avoiding duplication and consumer confusion. The premium smartphone market in India experienced a staggering 64% YoY growth, propelled by financing schemes that enabled more customers to embrace higher-priced smartphones.
As the industry looks ahead, the forecast for the upcoming year anticipates a surge in demand for devices supporting Dolby Atmos, Dolby Vision, and Generative AI. Foldables are poised for a prosperous future, with Counterpoint predicting the segment will surpass 1 million shipments in 2024.