A new report released on Wednesday showed that India’s smartphone shipments will remain flat at 152 million units in 2023, with Apple surpassing the 10 million unit mark and occupying the top spot in terms of revenue for the first time.

According to data from Counterpoint Research, Samsung topped the list last year with 18% market share, the first time since 2017.

Vivo ranks second with a 17% share in 2023 and leads the affordable premium segment (Rs 30,000-Rs 45,000) with a 33% share.

Xiaomi slipped to third place in 2023 but led with an 18.3% share in the fourth quarter of 2023.

OnePlus grew 33% year-on-year in 2023 on the back of offline expansion and better product mix in the affordable premium segment (Rs 30,000-Rs 45,000).

India’s 5G smartphone shipment share exceeded 52%, a year-on-year increase of 66%.

“The Indian smartphone market grew 25% year-on-year in the fourth quarter of 2023 after a year of decline, driven by premium market growth and 5G upgrades,” said Shilpi Jain, senior research analyst.

Exiting the market last quarter (October-December) with healthy inventory levels compared to last year sets the right tone for growth next year.

“We believe the market will grow 5% year-on-year next year, driven by premiumization, penetration of 5G in lower price bands and better macroeconomic conditions,” Jain added.

The high-end market grew 64% year-on-year, driven by easy financing plans, which led consumers to jump on higher-priced smartphones.

“For Apple, opening its own retail stores and increasing focus on LFR (large format retail) through regular promotions can help increase offline shipments. Additionally, higher trade-in values ​​provide an effective way for consumers to transition to iOS. attractive proposition,” said research analyst Shubham Singh.

(This article has not been edited by News18 staff and is published by IANS, the associated news agency)