The Indian smartphone industry, after experiencing a slump for four consecutive quarters, showed signs of recovery in Q3 2023 during the festive season sales. More than half of the smartphones sold during this period were 5G enabled.
Samsung (KS:005930) maintained its market leadership despite experiencing a drop in market share from 19.5% to 17.2%. The company's Galaxy A and M series were instrumental in leading the market.
Xiaomi (OTC:XIACF) held onto its second position in the market, even as its market share slipped from 20.6% to 16.6%. The company's Redmi 12 series, affordable 5G offerings, and offline expansion played a significant role in maintaining its standing.
Apple (NASDAQ:AAPL) recorded a remarkable YoY growth of 34%, shipping over 2.5 million units during this period. The premiumization trend and financing offers were key factors contributing to Apple's strong performance.
Vivo also saw an uptick in its performance, with an 11% YoY growth. The company's market share increased from 14.4% to 15.9%, largely due to the success of its sub-brand iQOO.
Overall, the recovery of the Indian smartphone industry in Q3 2023 signals a positive trend for the sector after several quarters of decline.
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