Shipments decline to 45million units in the quarter.
The smartphone and feature phone market in India saw a YoY decline of 15% in Q3 2022. itel led the feature phone market consecutively in a row for 3 years in 3Q22 with a 28% share. The smartphone shipment on the other hand declined 11% YoY reaching over 45 million units in the quarter, as per Counterpoint’s Research.
Senior Research Analyst Prachir Singh based on the research said, “Consumer demand started increasing in August and peaked in the last week of September during the festive sales, especially in the mid-tier and premium segments. However, as the market exited Q2 2022 with high inventory, and there was modest demand in the entry-tier and budget segments, we saw fewer than expected shipments during Q3 2022. Almost all the brands were impacted, especially in the entry-tier and budget segments. The unfavourable macroeconomic conditions will continue to affect the Indian smartphone market in Q4 2022 as well, especially after Diwali. However, we may witness a demand uptick during the year-end sales.”
The Indian smartphone market was led by Xiaomi, though its shipments declined 19% YoY; followed by Samsung which was the only smartphone brand among the top five to register an annual growth. vivo captured the third position; while realme remained in the fourth spot followed by OPPO. Transsion Group brands (itel, Infinix and TECNO) captured a 12% share in India’s handset market to climb to the third spot. Apple reached its highest-ever share of 5% in India’s smartphone market during the quarter driven by a strong channel push ahead of the festive season.
