A recent report from Canalys has revealed that the smartphone market in India experienced a year-on-year growth for the first time in five quarters during the final quarter of 2023. Vendors witnessed a 20% increase in shipments between October and December, contributing to a slight 2% decrease in sales for the entire year compared to 2022.
The total shipments in 2023 reached 148.6 million units, with 38.9 million shipped during Q4.
Samsung maintained the top position, while competition remained tough, with Xiaomi and vivo trailing closely in second and third, just 2 percentage points behind.
According to analysts, a stronger presence in offline retail channels helped the Indian market grow in Q4. Xiaomi and Realme directed half of their devices to brick-and-mortar stores, significantly boosting their sales. Xiaomi’s sales increased by 31% in Q4 compared to the same period last year, while Realme witnessed an even greater 69% YoY increase.
Q4 2023 Shipments (million) |
Q4 2023 Market Share |
Q4 2022 Shipments (million) |
Q4 2022 Market Share |
Annual Growth | |
Samsung | 7.6 | 20% | 6.7 | 21% | 14% |
Xiaomi | 7.2 | 18% | 5.5 | 17% | 31% |
vivo | 7.0 | 18% | 6.4 | 20% | 10% |
Realme | 4.5 | 12% | 2.7 | 8% | 69% |
Oppo | 3.7 | 10% | 4.0 | 12% | -5% |
Others | 8.9 | 23% | 7.3 | 22% | 23% |
Total | 38.9 | 100% | 32.4 | 100% | 20% |
Senior Analyst at Canalys, Sanyam Chaurasia, mentioned that the premium segment experienced significant growth due to attractive financing options and increasing disposable income. Apple introduced its iPhone 15 series around Diwali in November and offered discounts on older models such as the iPhone 14 and iPhone 13, enabling the US company to capture a 7% market share.
Similarly, Samsung set ambitious retail targets for its Galaxy S23 devices. Additionally, the relatively affordable S23 FE drove shipments, with the help of attractive banking deals, Chaurasia added.
2023 Shipments (million) |
2023 Market Share |
2022 Shipments (million) |
2022 Market Share |
Annual Growth | |
Samsung | 28.4 | 19% | 28.6 | 19% | -1% |
vivo | 26.1 | 18% | 25.4 | 17% | 3% |
Xiaomi | 25.1 | 17% | 29.6 | 20% | -15% |
Realme | 17.4 | 12% | 20.9 | 14% | -16% |
Oppo | 15.7 | 11% | 17.0 | 11% | -7% |
Others | 35.8 | 24% | 30.2 | 20% | 18% |
Total | 148.6 | 100% | 151.6 | 100% | -2% |
With India set to hold a general election this year, vendors are anticipating improved indicators for the consumer market, manageable inflation, steady interest rates, and a stable government. This is expected to result in “mid-single-digit” growth for the first half of 2024, driven in part by affordable 5G devices and the replacement cycle following the pandemic period.