Even as India’s smartphone shipments remained flat in the July-September quarter, Apple recorded its highest ever quarterly shipments during the period. The company dispatched over 2.5 million units of iPhones to retail outlets or carriers, recording a 34% YoY growth, according to data by Counterpoint.
Reasons for Apple witnessing record iPhone shipments can be attributed to consumers moving towards premium products. iPhone sales are also on upward trajectory due to several financing offers, analysts said.
The growth in iPhone shipments is expected to further accelerate in the coming quarters as during the first week of festival season (October 8-15) iPhone sales crossed 1.5 million units for the first time ever.
After declining for almost a year, India’s smartphone market has started showing signs of recovery with a gradual pick-up in consumer demand going into the festive season, Counterpoint said.
During the quarter, the share of 5G smartphone shipments reached 53%. The main growth driver in the segment was multiple launches in the Rs 10,000-15,000 segment. The 5G penetration reached 35% in the entry-lever segment, compared to 7% in the year-ago period.
“The market is gradually moving towards growth and we are witnessing positive consumer sentiment during festive season sales,” said Shilpi Jain, senior research analyst at Counterpoint. “India’s smartphone market will experience growth in the coming quarter due to pent-up demand, elongated festive season and faster 5G upgrades,” Jain added.
Owing to iPhone shipments as well as growing traction for foldable phones, the ultra-premium segment (over Rs 45,000) grew 44% YoY driven by the availability of easy financing options, implementation of various incentive programmes in the market, and growing consumer aspirations for the latest technology.
With regard to brand specific performance, Samsung remained the market leader for the fourth consecutive quarter with a market share of 17.2%, followed by Xiaomi with a 16.6% share, and vivo at 15.9%. OnePlus took the top spot in the affordable premium segment (Rs 30,000-45,000) with a 29% share, whereas Vivo was the fastest growing brand among the top five, registering 11% YoY growth, according to the data.
“Aggressive push in offline through better incentives and price parity across channels, focus on the fastest growing premium segment and innovation through the latest ultra-premium offerings are some of the strategies helping Samsung keep ahead of the competition,” said Shubham Singh, research analyst at Counterpoint.
Notably, phones from Transsion grew the fastest at 41% YoY during the quarter.
Following the launch of the JioBharat phones at Rs 999, the share of 4G feature phones in the overall feature phone shipments increased to 32% in Q3 2023.