Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Technology / News/  Xiaomi leads the Indian smartphone market followed by Samsung: Report
BackBack

Xiaomi leads the Indian smartphone market followed by Samsung: Report

Xiaomi was followed by Samsung which shipped 8.1 million units during the third quarter of 2022. The South Korean company captured 18% of the total market share in the same quarter.

FILE PHOTO: A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. REUTERS/Francis Mascarenhas (REUTERS)Premium
FILE PHOTO: A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. REUTERS/Francis Mascarenhas (REUTERS)

Smartphone major Xiaomi continues to dominate the Indian smartphone market. According to a report by Canalys, the company has a market share of 21% during Q3, 2022, shipping 9.2 million units. The annual growth rate, however, was down by 18% as the company shipped 11.2 million units during the same quarter, 2021.

Xiaomi was followed by Samsung which shipped 8.1 million units during the third quarter of 2022. The South Korean company captured 18% of the total market share in the same quarter. As per the report, Samsung saw strong momentum in the mid-high-end category owing to aggressive offers and promotions. Vivo, Oppo and Realme are at third, fourth and fifth positions with a market share of 16%, 16% and 15%, respectively.

The report further states that India’s smartphone shipments in Q3, 2022 were 44.6 million units, a 6% decline from the previous year. The drop was reportedly because of the ‘lackluster low-end segment’.

“Early Monsoon and Independence Day online sales were great opportunities for vendors to clear inventory before heading into the festive season," said Canalys Analyst Sanyam Chaurasia. “The good news is, as the festival season began, in the last few weeks of the quarter, consumer demand improved. Hit by inflation, entry-level device contribution declined this year, while the mid-to-high segment performed relatively well thanks to aggressive promotions.

Only exception to the negative growth trend is Oppo which shipped 7.1 million units in Q3, 2022 – a 14% growth from 6.2 million units during the same period last year.

The report highlights the growing demand of 5G phones in India. “5G devices are gaining in popularity, supporting overall device ASP growth and sales revenue," said Chaurasia. “It is perfect timing for vendors to push their 5G portfolios to smartphone upgraders in the next couple of years, as operators are rolling out 5G services in Tier 1 cities. Entry-level brands are also trying to capitalize on 5G opportunities. Jio and Google are developing the most affordable 5G smartphones to compete with major brands. Although from a cost perspective the ultra-affordable category is unlikely to hit the market in the near term as 5G chipsets are unlikely to decrease in price dramatically."

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Technology News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 22 Oct 2022, 07:44 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App