Counterpoint: India’s smartphone market shrinks by 3% in Q2, premium segment grows 112%

A brand new evaluation from Counterpoint reveals the free fall of the Indian smartphone market may be coming to an finish. Overall shipments dropped simply 3% in comparison with Q1, which is lower than analysts anticipated.

Counterpoint researchers consider that the enhancing market situations and declining inflation had an excellent impression on gross sales. In reality, the premium smartphone segment noticed a whipping 112% development year-over-year. That appears to be in line with earlier evaluation claiming that the maturing Indian market is slowly shifting in the direction of dearer smartphones. That’s a part of the rationale why Xiaomi is falling behind in the race.

Samsung bought probably the most smartphones in the nation with 18% share in Q2 2023, adopted by vivo, Xiaomi, Realme and Oppo, in that order.

As far because the premium market is anxious, Samsung lastly overtook Apple because of good gives on its foldables, older Galaxy S22 lineup and the S21 FE. Additionally, Samsung’s Finance+ program helped a bunch. But with regards to the ultra-premium market above INR 45,000, Apple remains to be the highest performer with 59% share. Interestingly sufficient, India is now in Apple’s prime 5 markets, the Cupertino firm lastly gaining some traction after so a few years of negligible gross sales there.

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