According to a report by International Data Corporation (IDC), 5G smartphone’s share in the Indian smartphone market grew from 31 per cent in Q1 2022 to 45 per cent in Q1 2023, with Samsung in the lead.
As per the report, the average selling price (ASP) reached its all-time high of $265 with the share of smartphones priced over $600 increasing to 11 per cent compared to 4 per cent in 2022.
Further, Indian smartphone market witnessed a drop in shipments by 16 per cent in Q1 2023 to around 31 million units, due to low demand and high closing stock of 2022. Growing customer preference for refurbished phones and a pessimistic view of the market were other reasons. However, Samsung’s shipment declined only by 11.4 per cent year-on-year, followed by Xiaomi with a decline of 41.1 per cent and Realme with a decline of 52.2 per cent. During this period only Oppo grew by 19.6 per cent.
Commenting on the report, Upasana Joshi, research manager, Client Devices, IDC India, said, “5G smartphones continue to increase penetration in the low-end price segment and we should expect a strong 5G play in the $150-$300 segment in H223 as high-end 4G models vacate the space.”