India Smartphone Market Declines by 10% YoY in 1H23 with 64 million units

According to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, India smartphone market shipped 64 million units in 1H23 with a decline of 10% YoY (year-over-year). In 2Q23 the market grew by 10% over the previous quarter but declined by 3% YoY with 34 million units. 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.

After several quarters of growth, the ASP (average selling price) declined by 8% QoQ but grew by 13% YoY, reaching US$241 in 2Q23. The share of the sub-US$200 segment declined to 65% from 70% a year ago, a dip of 11% YoY. The mid-range segment (US$200<US$400) remained flat with a 22% share, while the mid-to-high-end segment (US$400<US600) with a 5% share, grew by 34% YoY in 2Q23. The premium segment (US$600+) grew the highest, up 75% YoY reaching 9% share.

Upasana Joshi, Research Manager, Client Devices, IDC India, said, “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.”

17 million 5G smartphones shipped with an ASP of US$366 in 2Q23, down 3% YoY. Samsung, vivo and OnePlus were the leaders in the 5G segment with a combined share of 54%. Apple’s iPhone 13 and OnePlus’ Nord CE3 Lite were the highest shipped 5G models in 2Q23.

 

 

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