Indian smartphone market dips 10% YoY, Apple logs 61% growth

The Indian smartphone market shipped 64 million units in the first half of 2023 with a 10 per cent year-over-year decline, an industry report showed on Thursday.

In the second quarter (Q2), the market grew by 10 per cent over the previous quarter but declined by 3 per cent 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 per cent YoY growth.

OnePlus too registered a healthy growth of 61 per cent, although its ASP dropped by 14 per cent YoY to $346.

However, it is Poco which grabbed the limelight by achieving an unprecedented growth rate of 76.5 per cent among the top ten brands in India.

Commenting on the development, Himanshu Tandon, Country Head, Poco India said that the remarkable surge has propelled the company to new heights

"This achievement would not have been possible without the unwavering support of our loyal customers and the dedication and hard work of our talented team," he added.

The premium segment ($600+) grew the highest, up 75 per cent YoY reaching 9 per cent 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 per cent YoY. Samsung, vivo and OnePlus were the leaders in the 5G segment with a combined share of 54 per cent.

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

With IANS inputs