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Indian Smartphone Shipments Surge by 25% Year-on-Year in Q4 2023

According to the Monthly India Smartphone Tracker, by Counterpoint smartphone shipments in India saw a 25% year-on-year increase in the quarter of 2023 bouncing back after a year of decline. Despite this recovery, the total number of shipments for 2023 remained consistent at 152 million units.

The first half of the year posed challenges with demand and excess inventory. Conditions improved in the latter half thanks to greater adoption of 5G technology and strong sales during festive seasons.

Indian Smartphone

All About the Indian Smartphone Q4 Scenario

In terms of focus on 5G technology and shipment trends, Senior Research Analyst Shilpi Jain noted a 66% year-on-year growth. This growth can be attributed to Original Equipment Manufacturers (OEMs) prioritizing the introduction of 5G devices into the market. As a result, half (52%) of all smartphone shipments in 2023 were comprised of 5G smartphones.

The last quarter ended with inventory levels providing an outlook for an anticipated 5% year-on-year growth in the upcoming year. Market dynamics and forecasts suggest that factors such, as premiumization, wider availability of 5G devices, and improved macroeconomic conditions will contribute to this growth.

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image 7 Indian Smartphone Shipments Surge by 25% Year-on-Year in Q4 2023
via Counterpoint

When analyzing the landscape it was found that Samsung held the leading position with an 18% market share in 2023 closely followed by Vivo at 17% while Xiaomi secured the 3rd place. The premium segment (devices priced above INR 30,000 or $360) experienced growth of 64% compared to the previous year. This growth can be attributed mainly to financing schemes.

Apple achieved success by shipping over 10 million units and securing the position in terms of revenue for a calendar year for the first time. This achievement was a result of Apple’s approach towards the market combined with effective retail strategies and appealing trade-in offers. Offline channels saw growth capturing a share of 55% in 2023. This was driven by consumer preferences for experiencing devices before making a purchase. This trend is expected to continue into 2024 due to factors, like premiumization, increased trade-in options, and expanded financing alternatives.

image 8 Indian Smartphone Shipments Surge by 25% Year-on-Year in Q4 2023

In the year of 2024 original equipment manufacturers (OEMs) will be paying attention to the aspects of Color, Material, and Finish (CMF) across different price ranges. There will also be an emphasis, on video enhancements featuring Dolby Atmos and Dolby Vision well as a growing popularity of foldable devices in the premium category. It is predicted that shipments of devices will surpass 1 million units. In 2023 notable growth was observed for brands such, as OnePlus, Transsion brands, Google, Lava, and Motorola.

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