India's smartphone market records the largest first-quarter loss of 19%.
India's smartphone market records  the largest first-quarter loss of 19%.


India's smartphone shipments decreased to more than  31 million units in the January-March quarter, marking the first quarter with the sharpest year-over-year decline of 19 percent , market research firm Counterpoint said on Thursday.

Mobile phones priced below Rs 30,000 apiece recorded a sharp decline while shipment in the premium and ultra premium category registered 60-66 percent increase. "This was the highest ever Quarter-first decline seen by India's smartphone market, besides being the third consecutive quarterly decline. Sluggish demand, high inventory build-up carried over from 2022, growing consumer preference for refurbished phones and pessimistic channel view of the market contributed to this decline," Counterpoint's market monitor service report said.

5G smartphones's contribution to total smartphone shipments reached a record of 43 percent. "With a 20 percent share, Samsung led the Indian smartphone market for the second consecutive quarter. It was also the top 5G brand," the report said.

Samsung's new 5G-capable A series performed well in the offline market, contributing 50 percent of the shipments. Samsung's ultra-premium segment i.e, priced above Rs 45,000, grew 247 percent Year-on-Year in March 2023 quarter driven by the successful launch of the S23 series and financing options, the report said. Apple grew 50 percent Year-on-Year and acquired a 6 percent share in March 2023 quarter. Apple maintained its lead in the overall premium segment (Rs 30,000) as well as in the ultra-premium segment, ie, above Rs 45,000, with 36 percent and 62 percent shares, respectively. 

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