India's festive season smartphone revenue grew 17%
India's smartphone sales revenue grew 17% annually in the first eight days of festive season sales from September 23rd to 30th, 2022, driven by the wholesale ASP (Average Selling Price) growth of 19%.
In a report by Strategy Analytics, the top 3 benefiters from this festive season sale were Samsung, Xiaomi, and Realme, with Apple left out of the top three pack. These three brands accounted for a combined 62% of the overall sales in volume terms.
Samsung led the chart with 26% market share, followed by Xiaomi and Realme with 20% and 17% respectively in the first week of festive season sales this year. Samsung sold an estimated 3.3 million units of smartphones while Xiaomi and Realme sold out 2.5 million units and 2.2 million units respectively this year.
"Chinese brands were facing strong headwinds in India and restricted with limited budgets on channel promotions, leading to the soft performance this year. Xiaomi yield the leading position to Samsung", said Rajeev Nair, Senior Analyst at Strategy Analytics.