Apple: The newest data from Counterpoint’s Monthly India Smartphone Tracker shows that smartphone shipments in India stayed steady in Q3 2023 (July–September), despite Apple recording its highest-ever quarterly shipments during that time. With a modest increase in consumer demand leading up to the crucial festive season, India’s smartphone market is beginning to show signs of recovery after falling for nearly a year.
Apple records highest-ever quarterly iPhone shipments
As per the Counterpoint Research report, the trend of ultra-premiumization in India is gradually gaining traction with each successive quarter. Customers are considering cell phones costing more than Rs 45,000 because of the numerous incentive schemes, which include bank discounts and exchange incentives, as well as the ease of financing options. This change in customer behaviour appears to be advantageous to Apple. The Cupertino, California-based tech giant has also made significant strides with the introduction of the iPhone 15, which features USB-C, Dynamic Island, and local manufacturing.
Research Analyst Shubham Singh made the following remarks regarding the brand-level research and competitive landscape, “Samsung maintained its leading position for the fourth consecutive quarter with a 17.2% share driven by the success of its A and M series. Aggressive push in offline through better incentives and price parity across channels, focus on the fastest growing premium segment and innovation through the latest ultra-premium offerings are some of the strategies helping Samsung keep ahead of the competition. Samsung was closely followed by Xiaomi, with its 16.6% market share driven by strong demand for the Redmi 12 series and offline expansion. Xiaomi is effectively capitalizing on the opportunity to provide 5G technology in the budget segment. Its latest Redmi 12 5G series received an overwhelming response from consumers.”
He added, “vivo retained the third spot but was the fastest growing brand among the top five, experiencing 11% YoY growth. Strong offline presence, focussed approach to CMF (Colour, Material, Finish), and targeting the mid-premium segment through its sub-brand IQOO drove the demand for vivo. In the overall market, Transsion brands grew the fastest at 41% YoY. Experiencing a high-growth phase in India, Apple recorded 34% YoY growth. Q3 2023 also marked the best quarter for Apple’s shipments in the country, which crossed 2.5 million units. Premiumization has started in the world’s second largest smartphone market and Apple has again got the timing right to benefit from this trend through its devices and financing offers. OnePlus was the top brand in the affordable premium segment (INR 30,000-INR 45,000) with a 29% share driven by strong sales of the OnePlus 11R.”