Products You May Like
Smartphones shipments in India plunged by over 27 percent to 29.6 million in the October-December quarter of 2022, from 40.6 million in the year-ago period, mainly due to inflationary pressures, market research firm IDC said on Friday.
According to the report, dwindling consumer demand due to high inflation remained a challenge throughout the year despite the improved supply situation.
Smartphone shipments in the sub-$ 300 (about Rs. 25,000) price segment declined by 15 percent while mid-premium and premium price segments of $ 300-500 and over USD 500 (Rs. 41,000) grew by 20 and 55 percent, respectively during 2022.
The entry-level smartphones, below Rs. 12,500 apiece, shrunk to 46 percent from 54 percent a year ago.
IDC India, Research Manager, Client Devices, Upasana Joshi said dearth of new launches in sub-$ 150 (about Rs. 12,000) smartphone segment limited its growth.
According to IDC Associate Vice President, Devices Research, Navkendar Singh rising prices and excess inventories are expected to be a concern at least during the first half of the current year.
“We should expect a rather difficult and elongated recovery for the smartphone market, as worries around rising prices and excess inventories will remain a concern at least in the first half of 2023.
“Vendors and channel partners need to rethink their plans for their entry-level portfolios, driving 5G device affordability with attractive trade-in programs and financing schemes,” Singh said.
Xiaomi led the market during the quarter as well as on an annual basis with 18.6 and 21 percent market share despite huge dip in its shipment volume on a year-over-year (YoY) basis.
Xiaomi shipments declined by 38.3 percent during the December 2022 quarter and 25 percent on an annual basis in 2022.
Apple maintained its lead in the premium segment with a 60 percent share followed by Samsung with a 21 percent share.
Samsung smartphones shipment declined by 22.6 percent in the December 2022 quarter and 6.6 percent during the year.
Samsung was second largest player during the quarter as well during the year with 18.4 percent and 18.1 percent share respectively in terms of smartphone shipments.
Overall, 201 million mobile phones were shipped in 2022, clocking a 12 percent annual decline.
“Feature phone shipments stood at 57 million, a drop of 18 percent YoY. Samsung, Xiaomi and Transsion were the leading companies in the total mobile phone market,” the report said.