India Smartphone Market Grows 19% In Q4 2023, 5G Share Up 65% | Economy News


New Delhi: India smartphone market grew 19 per cent (year-on-year) in the holiday quarter (Q4) of 2023, as Xiaomi led the overall smartphone market followed by Samsung, a report showed on Tuesday.

The 5G smartphone shipment share increased to 65 percent, marking a 122 percent growth (on-year). Samsung led the 5G smartphone market with a 22 percent market share, followed by Vivo at 18 percent during the quarter, according to the report by market research firm CyberMedia Research (CMR).

The overall mobile market shipments recorded growth of 29 per cent YoY. Xiaomi (19 percent), Samsung (18.9 percent), and Vivo (16 percent) captured the top three spots, followed by Realme (12 percent) and OPPO (8 percent). (Also Read: Tarun Chhabra Appointed New Nokia India Head, Replaces Sanjay Malik)

“5G and a strong premiumisation wave continued to underline the smartphone market growth in India. Around 58 per cent of 5G smartphones were shipped under the value-for-money segment (Rs 7,000-Rs 25,000), up from 47 percent in Q4 2022,” said Shipra Sinha, analyst- Industry Intelligence Group, CMR.

Furthermore, the Rs 50,000 superpremium smartphone segment experienced a remarkable 65 percent YoY growth. “There was a noteworthy growth in the 4G feature phone market, primarily catalyzed by Jio,” she said.

In the entire year, the smartphone market recorded a 2 per cent YoY decline in shipments. On the other hand, 5G smartphone shipments grew 67 percent YoY for 2023. (Also Read: State Bank Of India To Buy Out SBI Caps’ Stake In SBICAP Ventures Kolkata)

“Samsung maintained its leadership in the smartphone market with an 18% market share, followed by Vivo at 16 percent in CY2023,” the report mentioned. The overall feature phone market recorded a significant 52 per cent YoY growth. The growth was primarily driven by 4G feature phone models, while shipments of older 2G phones declined 12 percent.

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