Smartphone market sees highest ever fall in Jan-Mar

Premiumisation Trend

- Consumer demand for high-end smartphones increasing

- Premium segment’s share almost doubled in Q1

- However, affordability is the key here as cos offering more financial schemes

New Delhi: India’s smartphone shipments declined 19 per cent (y-o-y) to reach over 31 million units in the first quarter of 2023, the highest ever Q1 drop, a report said on Thursday. Q1 2023 (January-March) was the third consecutive quarter to see a decline in India’s smartphone shipments, according to the latest research from Counterpoint’s Market Monitor service.

With a 20 per cent share, Samsung led the Indian smartphone market for the second consecutive quarter. It was also the top 5G brand.

“We are observing a change in consumer behaviour, demand is now concentrated around promotional periods. The beginning of the quarter saw a surge in demand across channels around the Republic Day sales period,” said senior research analyst Shilpi Jain.

“We believe these situations will remain similar in Q2 2023 as well with growth coming back in the second half of the year owing to faster 5G upgrades, easing macroeconomic pressure and festive season,” Jain added.