The latest report by Canalys has revealed that the Indian smartphone market has experienced a significant decline in Q1 shipments, recording a YoY decrease of 20%. The sluggish consumer demand has been attributed to this unprecedented decline.
Despite the challenging market conditions, Samsung has managed to retain its top spot with a market share of 21%. The South Korean electronics giant shipped 6.3 million units in the first quarter of 2023, cementing its position as the leading smartphone brand in India.
Meanwhile, OPPO (including OnePlus) made remarkable strides, overtaking Xiaomi and Vivo to claim second place with 5.5 million shipments. The brand's successful new product launches were instrumental in achieving this feat. Vivo continued its impressive run in the offline channels, shipping 5.4 million units and securing third place.
On the other hand, Xiaomi (including POCO) slipped to fourth place, shipping 5.0 million units in Q1, while realme took fifth place with 2.9 million shipments, as the online channel remained muted.
In its outlook for the current year, Canalys expects modest growth as the mass-market segment is still moving slowly. Nonetheless, the premium segment is poised for growth, boosting the ASP growth of the overall market.