Apple holds top position in revenue in a calendar year for first time in India

India’s smartphone shipments remained flat in 2023 at 152 million units, as Apple surpassed the 10-million-unit mark in shipments and captured the top position in revenue in a calendar year for the first time, a new report showed on Wednesday. In 2022, Apple shipped around six million iPhone units, so this year’s total shipments saw an increase of about 4 million units, thanks to demand for iPhone 15 and iPhone 14 at discounted prices.

With a 22 percent share, Samsung took the top spot last year, for the first time since 2017, according to Counterpoint Research. The South Korean company slipped to the second position in this calendar year as its market share fell to 21. Apple secured a market share of 23 percent this year, while last year, its market share was around 17 percent.

“For Apple, the opening of own retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments. Besides, higher trade-in values presented an appealing proposition for consumers to transition to iOS,” said research analyst Shubham Singh.

Vivo took the second spot in 2023 with a 17 percent share and led the affordable premium segment (Rs 30,000-Rs 45,000) with a 33 percent share. Xiaomi slipped to the third spot in 2023 but led in Q4 2023 with an 18.3 percent share. OnePlus grew by 33 percent YoY in 2023 driven by offline expansion and a better product portfolio in the affordable premium segment (Rs 30,000-Rs 45,000).

5G smartphone shipment share crossed 52 percent in India, growing 66 percent YoY, according to the report. “Driven by the premium segment’s growth and 5G upgrades, India’s smartphone market grew 25 per cent YoY in Q4 2023 after declining for a year,” said senior research analyst Shilpi Jain.

The last quarter (October-December) exited the market with healthy inventory levels compared to last year, setting the right tone for growth for next year. “We believe the market will grow by 5 percent YoY next year driven by premiumisation, diffusion of 5G in lower price bands and better macroeconomic conditions,” Jain added. The premium segment witnessed a 64 percent YoY growth, driven by easy financing schemes, which resulted in consumers jumping price bands to purchase higher-priced smartphones.

— Written with inputs from IANS