According to the latest data published by CMR, India’s 5G smartphone shipment share surged to an impressive 57% in the September 2023 quarter.
5G smartphone shipments increased
Samsung gained a 23% share, followed by Vivo with a 16% share. Notably, Vivo, while holding the third position in the overall market, managed to achieve an impressive year-on-year growth of 24%, expanding its market share from 12% in Q3 2022 to 15% in Q3 2023.
In contrast, Samsung’s shipments faced a 12% decline, resulting in a slight contraction of its market share from 20% in the same period last year to 17% in Q3 2023. Xiaomi, the second-placed contender, saw the highest drop in shipments, plummeting by 21%, with its market share diminishing from 22% in Q3 2022 to 17% in the third quarter of 2023.
Menka Kumari, an Analyst at CMR, expressed optimism about the smartphone market’s prospects, stating, “The smartphone market is showing encouraging signs of stabilization, with relatively lesser headwinds as we look forward to 2024 and beyond. Compared to a year ago, smartphone OEMs will exit 2023 with better inventory levels. As we move forward, OEMs will look to maintain a leaner product portfolio, backed by aggressive marketing to gain market share.”