by Bengaluru, India – The Indian smartphone market saw a 10% drop in sales in the first half of 2023 (H1 2023), according to a report by IDC. The report said that the market was impacted by a number of factors, including the ongoing chip shortage, rising inflation, and the economic slowdown.
“The Indian smartphone market is facing a number of challenges,” said Navkendar Singh, Research Director at IDC India. “The chip shortage is impacting the supply of devices, while rising inflation is making it difficult for consumers to afford new smartphones. The economic slowdown is also having an impact, as consumers are cutting back on discretionary spending.”
The report said that the top five brands in the Indian smartphone market in H1 2023 were Xiaomi, Samsung, Vivo, Realme, and Oppo. Xiaomi continued to be the market leader, with a 24% share of the market. Samsung was the second-largest brand, with a 21% share of the market. Vivo was the third-largest brand, with a 17% share of the market.
The report said that the Indian smartphone market is expected to recover in the second half of 2023. However, the recovery is likely to be gradual, as the challenges facing the market are likely to persist.
Key takeaways from the story:
- The Indian smartphone market saw a 10% drop in sales in H1 2023.
- The market was impacted by a number of factors, including the ongoing chip shortage, rising inflation, and the economic slowdown.
- The top five brands in the Indian smartphone market in H1 2023 were Xiaomi, Samsung, Vivo, Realme, and Oppo.
- The Indian smartphone market is expected to recover in the second half of 2023.
