Apple appears poised to assert its dominance in the lucrative Rs 1 lakh-plus smartphone segment, capturing an anticipated 39% market share by the conclusion of the upcoming calendar year, CY23. The premium smartphone market in India, particularly those priced above Rs 30,000, has been experiencing an impressive surge, with estimations indicating a remarkable 60% growth in CY23 compared to the previous year.
Based on insights from Counterpoint Research, Apple's expected ascent to a 39% share in the Rs 1 lakh-plus phone segment marks an increase from its 35% stronghold in CY22. Conversely, Samsung, renowned for its lineup of foldable smartphones, is projected to witness a decline in its share from 65% to 59% within the same timeframe, indicating a shift in market dynamics.
What's notable in India's landscape is not solely the brisk sales of high-end Apple devices from the latest generation. There's a burgeoning interest in older generation models like the iPhone XR, 11, 12, and 13 among consumers seeking more affordable alternatives. This surge in popularity owes itself to attractive offers and schemes, broadening Apple's appeal beyond just the newest releases.
While Samsung maintains its standing as the second most prominent player in the premium segment, it continues to lead the overall handset market, encompassing both feature phones and smartphones, boasting an 18% share.
This trend highlights Apple's growing traction in the premium smartphone market, not just with its latest models but also through strategic positioning of its older variants, while Samsung contends with shifting preferences and intensifying competition.