India’s smartphone market shipped 64 million units in the first half of 2023, according to the International Data Corporation Worldwide Quarterly Mobile Phone Tracker.
This was a decline of 10 per cent year-over-year.
In the second quarter of 2023, the market grew by 10 per cent over the previous quarter but declined by three per cent y-o-y with 34 million units.
This is as vendors and channels focused on clearing the inventory by offering discounts, special schemes, and price drops before the start of the festive season in the second half of the year.
After several quarters of growth, the report stated that the average selling price of smartphones declined by eight per cent quarter-on-quarter but grew by 13 per cent year-on-year, reaching $241 in Q2, 23.
The share of the sub-US$200 segment declined to 65 per cent from 70 per cent a year ago, a dip of 11 per cent y-o-y.
The mid-range segment (US$200<US$400) remained flat with a 22 per cent share, while the mid-to-high-end segment (US$400<US600) with a five per cent share, grew by 34 per cent y-o-y in Q2, 23.
The premium segment (US$600+) grew the highest, up 75 per cent y-o-y, reaching nine per cent share.
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