India has now become one of Apple’s top 5 global markets, according to a report by Counterpoint Research. In the second quarter of 2023, Apple maintained its dominance in the ultra-premium segment (US$ 548.52 or Rs. 45,000 and above) with a 59% share.
The premium smartphone market in India saw significant growth, rising by 112% year on year from April to June, accounting for a record 17% of total shipments. Samsung retained its lead in the overall Indian smartphone market, holding an 18% share for the third consecutive quarter. In the luxury smartphone sector (US$ 365.68 or Rs. 30,000 and above), Samsung reclaimed the top spot with a 34% share after one year, surpassing Apple.
Vivo maintained its second position and was the only brand in the top five to experience a year-on-year increase. OnePlus emerged as the fastest-growing brand in India’s smartphone market in Q2, with a remarkable 68% YoY growth.
During the quarter, OEMs and channels implemented aggressive measures to clear existing inventory through multiple sales and promotions ahead of the upcoming festive season, as stated by Senior Research Analyst Ms. Shilpi Jain. She also noted that 5G smartphones witnessed a significant surge in shipments, surpassing 100 million for the first time in India, driven by the expansion of 5G networks and the availability of low-cost smartphones.
