Punjab News Network

Apple is a major factor in the growing popularity of high-end smartphones in India: report

<p>India witnessed stable smartphone shipments in 2023, reaching 152 million units, as Apple surpassed the 10-million-unit milestone, securing the top spot in revenue for the first time in a calendar year, according to a new report unveiled on Wednesday.</p>
<p><img decoding=”async” class=”alignnone wp-image-382688″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-apple-is-a-major-factor-in-the-growing-popularity-of-high-end-smartphones-in-india.jpg” alt=”theindiaprint.com apple is a major factor in the growing popularity of high end smartphones in india” width=”1076″ height=”717″ title=”Apple is a major factor in the growing popularity of high-end smartphones in India: report 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-apple-is-a-major-factor-in-the-growing-popularity-of-high-end-smartphones-in-india.jpg 510w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-apple-is-a-major-factor-in-the-growing-popularity-of-high-end-smartphones-in-india-150×100.jpg 150w” sizes=”(max-width: 1076px) 100vw, 1076px” /></p>
<p>With an 18 percent market share, Samsung claimed the leading position last year, marking its first time at the top since 2017, as per Counterpoint Research.</p>
<p>In 2023, Vivo secured the second spot with a 17 percent market share, dominating the affordable premium segment (Rs 30,000-Rs 45,000) with a commanding 33 percent share.</p>
<p>Although Xiaomi dropped to the third position in the annual ranking, it led in Q4 2023 with an 18.3 percent market share.</p>
<p>OnePlus experienced a notable 33 percent YoY growth in 2023, attributed to offline expansion and an enhanced product portfolio in the affordable premium segment (Rs 30,000-Rs 45,000).</p>
<p>The share of 5G smartphone shipments crossed 52 percent in India, exhibiting a robust 66 percent YoY growth.</p>
<p>“Driven by the growth in the premium segment and the adoption of 5G, India’s smartphone market witnessed a 25 percent YoY growth in Q4 2023 after a year of decline,” stated senior research analyst Shilpi Jain.</p>
<p>The final quarter of the year exited the market with healthy inventory levels compared to the previous year, setting a positive tone for growth in the upcoming year.</p>
<p>“We anticipate the market will experience a 5 percent YoY growth next year, propelled by premiumization, the integration of 5G in lower price bands, and improved macroeconomic conditions,” added Jain.</p>
<p>The premium segment showcased a remarkable 64 percent YoY growth, driven by accessible financing schemes, encouraging consumers to shift to higher-priced smartphones.</p>
<p>“For Apple, the establishment of proprietary retail stores and a heightened focus on large-format retail through regular promotions contributed to increased offline shipments. Additionally, higher trade-in values presented an attractive proposition for consumers transitioning to iOS,” explained research analyst Shubham Singh.</p>