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India's smartphone market sees 2% drop in 2023, shipped 148.6 mn units: Canalys

Business Insider

Business Insider · 1y ago

India's smartphone market sees 2% drop in 2023, shipped 148.6 mn units: Canalys

India's smartphone market experienced a minor decline of two percent in 2023, with 148.6 million overall shipments, according to a report by Canalys. The market benefited from strong demand during the festival season, leading to a 20 percent increase in Q4 sales compared to the previous year. Samsung secured the top position with a 20 percent market share, followed by Xiaomi and Vivo. The premium segment witnessed significant growth due to financing options and rising disposable income, while Apple leveraged the Diwali festive sales to contribute more than 50 percent to its Q4 shipments. Canalys expects mid-single digit growth in the Indian smartphone market in 2024.

Related News

India iPhone business outpaces individual EU countries for Apple, Morgan Stanley says | TechCrunch

TechCrunch · 1y ago

India iPhone business outpaces individual EU countries for Apple, Morgan Stanley says | TechCrunch

Apple's iPhone revenue in India increased by 42% YoY to $8.7 billion in 2023, with shipments growing by 39% to 9.2 million units, making India its fifth-largest smartphone market, according to Morgan Stanley. Although India's iPhone market is not yet big enough to offset declines in China, if growth continues at the same pace, India could overtake China by 2027. The demand for premium devices with higher storage capacities is driving growth in India. Apple sees India as a significant growth engine, with revenue estimated to reach $40 billion by 2032.

Foreign smartphone shipments in China slump 47% in November

Economic Times

Economic Times · 6m ago

Foreign smartphone shipments in China slump 47% in November

In November, foreign-branded smartphone shipments in China, including Apple's iPhone, plummeted by 47.4% compared to the previous year, as reported by the China Academy of Information and Communications Technology. The shipments decreased to 3.04 million units from 5.769 million units previously. Overall, phone shipments within China experienced a 5.1% decline year-on-year, totaling 29.61 million handsets. This reflects a significant drop in foreign smartphone demand amid broader market challenges.

India’s wearables firms shipped a record 48.1 million units in July-Sept quarter

Business Today

Business Today · 1y ago

India’s wearables firms shipped a record 48.1 million units in July-Sept quarter

In the July-September quarter of 2023, the wearable market in India experienced a 29.2% YoY growth with a record-breaking shipment of 48.1 million units. The total shipments for the first three quarters of 2023 reached 105.9 million units, surpassing the previous year's total. Smartwatches saw the fastest growth, with 16.9 million units shipped. However, heavy discounting led to a decline in the average selling price of smartwatches. The earwear category also grew, with Truly Wireless Stereo (TWS) devices dominating the segment. Additionally, smart rings emerged as a popular accessory.

Apple India becomes top in India, earns Rs. 80,000 Crore revenue

Livemint

Livemint · 1y ago

Apple India becomes top in India, earns Rs. 80,000 Crore revenue

Apple has become the top smartphone market revenue earner in India in 2023, according to a report by Counterpoint India. Although Apple's revenue from iPhones fell just short of $10 billion, it was enough to surpass Samsung as the leader in terms of smartphone sales revenue. Despite a lack of enthusiasm among consumers towards smartphones, Apple shipped more than 10 million iPhones for the first time, experiencing over 50% YoY growth. Apple is expected to maintain strong double-digit shipment growth in 2024.

Apple steals the smartphone crown from Samsung, ending a 12-year run

Business Insider

Business Insider · 1y ago

Apple steals the smartphone crown from Samsung, ending a 12-year run

In a significant milestone, Apple has surpassed Samsung to become the top seller of smartphones worldwide in 2023, according to IDC shipments data. This is the first time since 2010 that a company other than Samsung has claimed the top spot. Apple shipped an estimated 80.5 million smartphones in Q4 2023, with a market share of 24.7%, while Samsung shipped 53 million smartphones, resulting in a market share of 16.3%. Although Apple's overall revenue declined in Q4 2023, its iPhone sales increased.

Apple's China market share shrinks as Huawei surges, data shows

Economic Times

Economic Times · 11m ago

Apple's China market share shrinks as Huawei surges, data shows

Apple's market share in China dropped by two percentage points in Q2 2024 due to increased competition from Huawei. Huawei's smartphone shipments rose 41% YoY during the period, aided by the launch of its Pura 70 series. Although specific shipment figures for Apple were not disclosed, Canalys data revealed that the company's market share in China fell to 14% in Q2 2024, down from 16% in the same quarter the previous year, resulting in a decline in Apple's ranking in the Chinese smartphone market from third to sixth place. Chinese smartphone shipments overall increased by 10% in Q2, with Vivo leading the market with a 19% share, followed by Oppo, Honor, and Huawei. Apple is now focusing on optimizing its channel management in the Chinese market, as it faces growth pressure.

91 of India's 117 Unicorns Genuinely Maintain Valuations Above $1 billion, says Blume Report

OutlookIndia

OutlookIndia · 4m ago

91 of India's 117 Unicorns Genuinely Maintain Valuations Above $1 billion, says Blume Report

Of India's 117 unicorns, 91 maintain valuations above $1 billion, despite challenges in sustaining these valuations long-term, according to a Blume Ventures report. India's unicorn creation significantly fell from 44 in 2021 to 2 in 2023, amid a funding winter that saw overall startup funding drop from $42 billion in 2021 to $16 billion in 2023. This downturn also led to the closure of over 35,000 startups in 2023.

India gaming market to be more sizable, impactful; looking to invest, acquire: Krafton India CEO

Economic Times

Economic Times · 3m ago

India gaming market to be more sizable, impactful; looking to invest, acquire: Krafton India CEO

Krafton, the South Korean gaming company behind Battlegrounds Mobile India (BGMI), sees substantial growth potential in India's gaming market, driven by a young population and increasing smartphone adoption. Krafton plans to increase investments beyond the $200 million already allocated and is open to acquisitions in India. The company views India's mobile-first gaming culture as unique and promising, despite the market being relatively small globally. Krafton is optimistic about India's regulatory landscape and seeks partnerships with passionate game developers.

Festive season a boost for second-hand electronics sellers, but buyers undecided

Livemint

Livemint · 9m ago

Festive season a boost for second-hand electronics sellers, but buyers undecided

Refurbished electronics sellers in India are expecting increased business during the festive season. ReFit Global plans to sell over 350,000 units in the last three months of the year, while Cashify may double its smartphone procurement numbers. The festive season typically sees a 30-40% increase in demand for refurbished items, particularly in tier-2 and tier-3 cities. Refurbished devices offer a cost-effective way for users to access trendy smartphones and laptops. Additionally, the availability of monthly payment options further contributes to the attractiveness of refurbished devices.

Maruti Suzuki India total sales rise 10% in March

Thehindubusinessline

Thehindubusinessline · 1y ago

Maruti Suzuki India total sales rise 10% in March

Maruti Suzuki India reported a 10% increase in total sales for March 2024, reaching 187,196 units compared to the same period last year. The company achieved an annual sales milestone of 2 million units in 2023-24, with record domestic sales of 1,793,644 units and exports of 283,067 units. Total domestic dispatches for March 2024 stood at 161,304 units, a 15.26% growth from the previous year. Passenger vehicle sales in the domestic market saw a 15% increase, while exports for the month declined. Overall, Maruti Suzuki's total sales for the fiscal year 2023-24 increased by 8.6%.

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