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Indian Smartphone Market Falls off by 10% YoY in 1H23

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Indian smartphone market could take an arrow and lean back in the forthcoming days as the market declined 10% of shipments compared to the same period of last year.

In precise, the Indian smartphone market shipped around 64 million units in 1H23. Although, in 2Q23, the percentage rose by 10% compared to the previous quarter only to see an overall slope of 3% YoY with 34 million units.

The sellers of both physical and online stores have started to pour some sausage of offers to people to expound an arguable theory of making the gadget available for everyone to snatch, to give a fresh start to the festive season in the year’s second half. The average selling price fell off the cliff by 8% QoQ after numerous quarters of flourishing; however, it rose by 13% YoY touching the edge of a pinnacle with US$241 in 2Q23.

The share of the sub-US$200 segment fell to 65% from 70% a year ago, a mere drop of 11% YoY. The mid-range segment (US$200<US$400) stayed put with a 22% share, whereas the mid-to-high-end segment (US$400< US$ 600) bagged a 5% share, delivering a clean sweep by 34% YoY in 2Q23.

India could be the market for an affordable range of smartphones, but the premium segment came out of the box to play music as it grew the highest of 75% YoY reaching a 9% share.

Merely 17 million 5G smartphones have been shipped with an ASP of US$366 in 2Q23, with a downfall of 3% compared to the previous year of the same period.

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

Samsung, Vivo, and OnePlus were leading the battle in the 5G segment with a combined share of 54%. Apple craze never went out of the country. Apple’s iPhone 13 and OnePlus’ Nord CE3 Lite were the highest-shipped 5G models in 2Q23.

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