India Smartphone Market Dips 10% YoY, Apple Logs 61% Growth

Image Courtesy: IANS

New Delhi: The Indian smartphone market shipped 64 million units in the first half of 2023 with a 10 percent year-over-year decline, an industry report showed on Thursday. In the second quarter (Q2), the market grew by 10 percent over the previous quarter but declined by 3 percent YoY with 34 million units, according to the International Data Corporation (IDC).

The vendors and channels focused on clearing the inventory by offering discounts, special schemes, and price drops before the start of the festive season in the second half of the year, the report mentioned. ()

Apple, with the highest average selling price (ASP) of $929, registered a massive 61 percent YoY growth. OnePlus too registered a healthy growth of 61 percent, although its ASP dropped by 14 percent YoY to $346. ()

The premium segment ($600+) grew the highest, up 75 percent YoY reaching 9 percent share.

“Consumers are opting for premium offerings, driven by easy and affordable financing options. IDC expects this growth momentum to continue in the upcoming months in 2023,” said Upasana Joshi, Research Manager, Client Devices, IDC India.

Around 17 million 5G smartphones shipped with an ASP of $366 in Q2, down 3 percent YoY. Samsung, Vivo, and OnePlus were the leaders in the 5G segment with a combined share of 54 percent. 

Apple’s iPhone 13 and OnePlus’ Nord CE3 Lite were the highest-shipped 5G models in Q2, said the report.