In recent years, there has been a significant increase in the demand for 5G smartphones in India, and in 2023, many new models were introduced to the market. Interestingly, the country shipped 79 million units of 5G smartphones within a year, which accounted for an impressive 54.1% of the total number of devices shipped.
In the broader context of the smartphone market in India, the overall number of devices shipped reached 146 million in 2023, indicating a slight year-on-year growth of 1%, according to the latest data from the International Data Corporation (IDC). It is worth noting that the second half of 2023 witnessed an impressive 11% growth compared to the previous year. The market’s strong performance in the second half effectively compensated for a steep 10% decline in the first half.
During the festive season, over 25% of the total number of smartphones shipped in India in 2023, which is 37 million units, were in the fourth quarter. Shipments during this period saw an impressive 26% growth compared to the previous year.
Rising Demand for 5G Smartphones in India
India is rapidly shifting towards the premium trend in the smartphone sector. The average selling price (ASP) of smartphones increased by 14% year-on-year, reaching a record value of $255 in 2023. It is worth noting that this was the third consecutive year of double-digit ASP growth, which contributed to the overall growth dynamics of the smartphone market.
The increase in the selling price of smartphones in India is mainly due to the growing demand for premium smartphones priced above $600, which led to an increase in the premium segment’s share from mere 6% in 2022 to 10% in 2023. Additionally, the rapid adoption of 5G smartphones in India played a significant role, representing a record 54% market share.
However, 5G smartphones are no longer perceived as exclusively for the premium segment. There has been a noticeable decline in the average selling price of 5G smartphones in India by 5% year-on-year in 2023, reaching $374. Within the 5G category, the mass market segment ($100-200) accounted for a 35% share in 2023, up from 22% in 2022, while the mid-premium segment ($200-400) maintained its dominant position but with a smaller share: 38% in 2023 compared to 49% in 2022. This dynamic trend in the market highlights the industry’s commitment to providing access to advanced technologies, including 5G, to a wider group of consumers in India.
In 2023, the top-selling 5G smartphones in India were Apple iPhone 13 and iPhone 14, Samsung Galaxy A14, Vivo T2x, and Xiaomi Redmi12.
In the premium smartphone market in India in 2023, nearly a million foldable smartphones were shipped, and the average selling price decreased by 4% year-on-year to $1236. Samsung maintained its dominant position in the foldable phone market, with an impressive market share of 73% in 2023.
On the other hand, the basic phone segment in India saw a revival in 2023 after four consecutive years of decline in shipments. Last year, 61 million units of basic phones were shipped to the country, representing an 8% year-on-year growth.
“Most brands opted to lower prices and offer additional channel margins in the last quarter to manage inventory levels post the festive season decline. This will result in a cautious supply through channels for the beginning of 2024,” said Upasana Joshi, Research Manager, Client Devices, IDC India.
FAQ Section based on the main topics and information presented in the article:
1. What has been the demand for 5G smartphones in India in recent years?
– In recent years, there has been a significant increase in the demand for 5G smartphones in India.
2. How many units of 5G smartphones were shipped to the Indian market in 2023?
– In 2023, 79 million units of 5G smartphones were shipped to the Indian market, accounting for 54.1% of the total number of devices shipped.
3. What was the overall shipment of smartphones in India in 2023?
– In 2023, the overall shipment of smartphones reached 146 million units in India.
The source of the article is from the blog myshopsguide.com