Counterpoint Research, which you may already know, analyses different smartphone market performances and also how smartphone companies perform in those markets or the global market.
The research analysis firm recently published a report which said Indian smartphone shipments saw a decline of 11% in YOY growth in Q3 2022, which is the first time ever for Q3.
The report further added that the high % decline could be due to the held-up demand of last year during Q3 2021 and the lower consumer demand for the entry and budget smartphone segment during Q3 2022.
Furthermore, the report adds that the Indian smartphone market, including both feature phones and smartphones, saw a decline of 15% YOY growth in Q3 2022 though the feature phone market saw a decline of 24% YOY growth owing to economic conditions, which continues to impact lower pyramid consumers.
With that being said, Itel continues to lead the feature phone segment in Q3 2022 with a 28% market share and has been leading the feature phone market for almost three years now.
Xiaomi leads with the highest market share
As we said above, due to lower consumer demands in the entry tier, the Chinese smartphone maker saw a 19% decline in shipments; however, the new launches in the budget & mid-tier segment during the quarter drove their shipments resulting in Xiaomi leading the Indian smartphone market with 21% market share in Q3 2022.
The second position went to Samsung; the south Korean giant grabbed an 18% market share. Samsung remained the top selling 5G smartphone and was the top brand for September in the 10,000 – RS 20,000 segment, mostly owing to its M & F series of smartphones.
Vivo, which saw a 15% decline in shipments, still managed to secure the third position, mainly due to a revamping of its V series and the online presence of IQOO and its T series.
This is how the Q3 2022 went for the smartphone makers in India! What do you guys think of this? and also, which smartphone did you buy during the festive sales? Tell us in the comment section below.