According to Canalys, the smartphone market in India experienced a year-on-year increase for the first time in five quarters during the Q4 of 2023. Vendors witnessed a 20% rise in shipments between October and December, resulting in an overall market decline of just 2%.
Out of the 148.6 million units shipped in 2023, 38.9 million were shipped in Q4.
Despite retaining the top position, Samsung faced stiff competition from Xiaomi and vivo, with a mere 2% difference in market share between the three companies.
The Indian market saw a surge in the October to December period as companies shifted their focus to offline businesses. Xiaomi and Realme increased their sales significantly by shipping half of their devices to brick-and-mortar stores. These tactics resulted in a 31% year-on-year sales increase for Xiaomi and an impressive 69% increase for Realme in Q4.
| 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, noted that the premium segment experienced strong growth due to attractive financing options and rising disposable income. Apple managed to capture a 7% market share after launching its iPhone 15 series and offering discounts on older models such as the iPhone 14 and iPhone 13.
Similarly, Samsung achieved impressive retail targets for its Galaxy S23 devices and the relatively affordable S23 FE, thus driving shipments with the help of “compelling 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% |
Vendors are hopeful of better consumer market indicators, manageable inflation, stable interest rates, and a steady government due to the upcoming general elections in India. These factors are expected to drive a “mid-single-digit” growth in the first half of 2024, along with the introduction of affordable 5G devices and the pandemic-period replacement cycle.
