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Journalism of Courage
The Indian smartphone market remained flat in 2023 with an overall shipment size of 44 million. However, the entry-premium, mid-premium, and premium segments have registered growth, and the average selling price of the smartphone has risen to US$253 or approx Rs 21,068.
The premium segment (US$600<US$800) has registered a massive 52 per cent year-on-year growth with a 3 per cent market share and phones like the iPhone 13/14, Galaxy S23/S23 FE and the Moto Razr 40 have helped this moment. Similarly, the mid-premium (US$400<US$600) has also registered a 37 per cent year-on-year growth with a 5 per cent market share.
The mass budget segment (US$100<US$200) has underperformed in the country with a 14 per cent year-on-year decline. Despite that, it still retains a market share of 44 per cent. Foldable smartphones, which also come under the premium segment have also hit a record number of half a million units shipment in India with a 66 per cent market share, Samsung leads this chart.
With a market share of 16.2 per cent, Samsung is currently the biggest smartphone brand in the country, and realme is in the second position with a 15.1 per cent market share, while Vivo (excluding iQOO) has slipped to third position with a 13.9 per cent market share. Xiaomi and Oppo are in the fourth and fifth positions with a market share of 11.7 per cent and 9.9 per cent, respectively.
