Indian Smartphone Market Sees Modest Growth in Q3 2023
The International Data Corporation (IDC) has recently released its survey for the third quarter of 2023, providing insights into the Indian smartphone market. The data reveals that the overall shipments in Q3 2023 witnessed a modest 0.4 percent year-over-year increase.
Top Smartphone Brands in Q3 2023
According to the IDC report, Samsung retained its position as the leading vendor in the Indian market with a 16.2 percent market share. Realme closely followed with a market share of 15.1 percent. Vivo and Xiaomi secured the third and fourth spots, respectively, with market shares of 13.9 percent and 11.7 percent.
Oppo, OnePlus, and Poco experienced substantial year-over-year growth, securing market shares of 9.9 percent, 6.2 percent, and 5.7 percent, respectively. Apple, Infinix, and Tecno demonstrated moderate growth, claiming market shares of 5.5 percent, 3.1 percent, and 2.9 percent, respectively. The remaining market share of 9.8 percent belonged to various other smartphone brands.
Key Takeaways from IDC Q3 2023 Report
The data from the IDC report provides several key takeaways for the Indian smartphone market. While Samsung remains the top player, it experienced a slight dip in market share compared to the previous year. In Q3 2022, Samsung held an 18.5 percent market share, which decreased to 16.2 percent in Q3 2023.
Realme stands out as the fastest-growing vendor, with an impressive year-over-year increase of 6.5 percent in market share. On the other hand, Xiaomi and Oppo, although still significant players, witnessed a decrease in their market shares in Q3 2023.
In contrast, OnePlus and Poco are experiencing robust growth, with a 50.1 percent and 50.8 percent year-over-year increase, respectively. This growth highlights the popularity and demand for their smartphones in the Indian market.
Apple, Infinix, and Tecno continue to demonstrate steady growth and maintain their importance in the market. These brands have managed to capture a certain market share and are expected to continue their positive trajectory.
