5G smartphones held a 41% market share in Q1 2023 regardless of a decline within the total Indian smartphone market, in line with a report by CyberMedia Analysis (by way of CNBCTV18). The report confirmed a 14% YoY development in 5G smartphone shipments, with 34 new 5G launches in the course of the quarter. Samsung was the chief within the 5G smartphone market with a 23% market share, adopted by Apple with a 17% market share.
Nevertheless, the report additionally confirmed that the general smartphone market noticed its highest-ever Q1 decline in 2023. CyberMedia Analysis’s India Cell Handset Market Assessment Report revealed that the reasonably priced smartphone section (sub-Rs 7,000) suffered a 38% YoY decline, whereas the value-for-money smartphone section (Rs 7,000 – Rs 25,000) and premium smartphone section (Rs 25,000 – Rs 50,000) witnessed 25% YoY and 23% YoY declines, respectively.
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Shipra Sinha, an analyst with CyberMedia Analysis (CMR), attributed the decline in smartphone shipments to weakened demand, inflation, and prolonged stock. Nevertheless, the super-premium smartphone section (Rs 50,000 – Rs 1,00,000) and the uber-premium section (>Rs 1,00,000) noticed outstanding development of 96% YoY and 208% YoY, respectively.
Samsung led the general smartphone market with a 20% market share, adopted by Vivo (17%) and Xiaomi (16%). Within the function cellphone section, 2G and 4G function cellphone shipments dropped by 15% and 35% YoY, respectively, because the demand for smartphone upgrades elevated.
The decline within the reasonably priced, value-for-money, and premium smartphone segments could also be as a result of influence of the COVID-19 pandemic on India’s economic system. Nevertheless, the expansion within the super-premium and uber-premium smartphone segments means that India’s rich inhabitants remains to be all in favour of high-end gadgets regardless of the challenges posed by the pandemic. The rise within the 5G smartphone market share signifies that buyers are keen to pay a premium for the newest know-how. Because the rollout of 5G networks continues throughout India, it’s seemingly that the demand for 5G smartphones will proceed to rise.
