India’s smartphone shipments marked its third consecutive quarter of decline impacted by sluggish demand, a high inventory build-up from 2022, and growing consumer preference for refurbished phones.
Research by Counterpoint showed that India's smartphone market experienced a 19% YoY drop in smartphone shipments, the highest-ever decline in the first quarter reaching just over 31 million units from January to March 2023. The quarter’s silver lining came from 5G smartphones, whose contribution (43%) crossed 40% for the first time, registering 23% YoY growth as consumers kept upgrading to 5G devices.
Looking at the Techloy chart below, Samsung took the top position in India’s smartphone market, overtaking Xiaomi which experienced its largest-ever drop of 44% YoY drop from first position in Q1 2022 to the third spot in Q1 2023. The South Korean company was also the leading brand for 5G shipments, accounting for a 24% share. Meanwhile, Chinese phone brands – Vivo, OPPO, and realme – took the second, fourth and fifth positions respectively.