Oppo bucks the trend as India’s smartphone shipments drop 20% in Q1 2023: Canalys
- The Indian smartphone shipments have reported a 20% year-on-year decline in Q1 2023.
- Samsung has topped the list with the highest shipments, with Xiaomi down to the fourth position.
Oppois the only company to have reported a year-on-year growth in Q1 2023.
AdvertisementThe year of 2023 has had a bad start for the Indian smartphone market – as its shipments dropped in the very first quarter of the year.
According to a report by Canalys, the Indian smartphone shipments reported a 20% year-on-year decline in Q1 2023, following a 6% year-on-year decline in Q4 2022.
“The Indian market faces early-year struggles but vendors keep fueling the market as they remain bullish on long-term prospects,” said Sanyam Chaurasia, analyst, Canalys.
“Investments from major brands are pouring in as they align with the government's vision and changing consumer behaviour. They are focusing on optimising retail, manufacturing, local sourcing, and R&D to secure their long-term position in the market,” Chaurasia added.
The research agency added that the market is still witnessing uneven demand woes and remains vulnerable to stock build-up. Smartphone makers shipped 30.6 million smartphones in Q1 2023, down from 38.2 million smartphones in Q1 2022, recording a decline of nearly 8 million devices.
A recent report by PriceWaterhouseCoopers said that six in ten Indians are cutting down on discretionary spending, which also includes electronics. “PwC’s latest Global Consumer Insights Survey for India drives home the key message of ongoing financial stress in the lives of the consumers, where 75% of them are very concerned about their financial situation. This sentiment will have a potential restraining effect on spends in highly discretionary categories of electronics and luxury,” said Ravi Kapoor, partner and leader - retail & consumer at PwC India.
Samsung takes the crown despite a decline in shipments
Korean smartphone manufacturer Samsung continues to dominate the Indian smartphone market, despite a decline in shipments. The company shipped 6.3 million smartphones in Q1 2023, down from 7.1 million devices shipped in Q1 2022, reporting a 11% decline.
However, its market share has increased from 19% to 21%, allowing it to grab the top spot. In the same quarter last year, it was at the second spot.
Xiaomi loses the crown after a huge decline in shipments
AdvertisementChinese smartphone maker Xiaomi reported a much sharper decline. The company’s shipments have declined to 5 million units in Q1 2023, down from 8 million units in Q1 2022, recording a 38% decline.
The company’s market share has also taken a huge hit, dropping from 21% to 16%, pushing it down to the fourth spot from the top spot.
Oppo becomes the only company to report a growth in Q1 2023
Chinese smartphone maker Oppo, whose shipments include OnePlus, is the only company that has reported a growth in Q1 2023. The company’s shipments increased from 4.6 million in Q1 2022 to 5.5 million in Q1 2023, registering an 18% growth.
The company has also climbed to the second spot, with a market share of 18%. In Q1 2022, the company occupied the fifth spot with a market share of 12%.
Vivo reports a small decline in shipments but market share increases
Chinese smartphone maker Vivo’s shipments have declined to 5.4 million units in Q1 2023, down from 5.7 million units in Q1 2022, registering a 4% decline in shipments.
Despite a decline, the company’s market share has increased from 15% to 18%, allowing it to grab the third spot.
Realme reports the biggest decline in shipments
Chinese smartphone maker Realme was the worst-hit, recording the biggest decline. The company shipped 2.9 million units in Q1 2023, down from 6 million in Q1 2022, recording a shocking 52% decline in shipments.
AdvertisementThe company’s market share has also declined from 16% to 9%, pushing it down to the fifth position.
Samsung and Apple boost India’s exports
Samsung and Apple have helped boost India’s exports in Q1 2023, helping record nearly $4 billion in exports in the first quarter.
“At present, India's smartphone export growth is primarily driven by Apple and Samsung, helping achieve a record-breaking export value of almost US$4 billion in Q1,” Canalys said in its report.
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