India Smartphone Market Resilient in Q4 2023: 19% YoY Growth, 65% 5G Smartphones Shipped: CMR

Prabhu Ram, Head - Industry Intelligence Group

Prabhu Ram, Head - Industry Intelligence Group

  • Xiaomi led the overall smartphone market followed by Samsung in Q4 2023.
  • Premium smartphone (INR >25,000) shipments recorded 71% YoY growth.
  • Feature phone shipments recorded 52% YoY growth in Q4 2023.

New Delhi/Gurugram, 6th Feb 2024:  According to CyberMedia Research (CMR)’s India Mobile Handset Market Review Report for Q4 2023 released today, India smartphone market grew 19% YoY. The 5G smartphone shipments share increased to 65%, marking a remarkable 122% YoY growth. Samsung led the 5G smartphone market with a 22% market share, followed by Vivo at 18% during the quarter.

The overall mobile market shipments recorded growth of 29% YoY in Q4 2023. Xiaomi (19.0%), Samsung (18.9%), and Vivo (16%) captured the top three spots in the smartphone leaderboard in Q4 2023, followed by Realme (12%) and OPPO (8%).

Commenting on the overall market conditions in Q4 2023, Shipra Sinha, Analyst- Industry Intelligence Group, CyberMedia Research (CMR), “5G and a strong premiumization wave continued to underline the smartphone market growth in India. 58% of 5G smartphones were shipped under Value-for-money segment (INR 7000-INR 25,000), up from 47% in Q4 2022. Furthermore, the INR >50,000 super-premium smartphone segment experienced a remarkable 65% YoY growth. There was a noteworthy growth in the 4G feature phone market, primarily catalyzed by Jio.”

Smartphone Market in CY2023

In CY2023, the smartphone market recorded a 2% YoY decline in shipments. On the other hand, 5G smartphone shipments grew 67% YoY in CY2023.

Samsung maintained its leadership in the smartphone market with an 18% market share, followed by Vivo at 16% in CY2023. In the 5G smartphone segment also, Samsung topped the leaderboard with 23% followed by Vivo at 15% and OnePlus at 13%.

Q4 2023 Feature Phone Market

The overall feature phone market recorded a significant 52% YoY growth. The growth was primarily driven by 4G feature phone models, while shipments of older 2G phones declined 12%. Jio dominated the feature phone market with 38% share, followed by Itel Mobile (23%) and Lava (15%).

For the entire year, Itel Mobile emerged as the leader with 28%, ahead of Lava at 21%.

Other Key Market Highlights in Q4 2023

POCO, Xiaomi’s sub-brand, experienced an impressive 148% YoY growth in smartphone shipments.

Vivo’s5G smartphone shipments recorded significant 300% YoY growth.

Realme’s5Gsmartphone shipments recorded remarkable growth of 274% YoY.

Apple captured 6% market share in the smartphone market in Q4 2023. The Apple iPhone 15 series constituted >50% of its total shipments.

Transsion Group brands, including itel, Infinix, and Tecno, recorded a 28% YoY increase in shipments (combined for smartphones and feature phones).

Jio captured 38% market share in the feature phone market in Q4 2023 largely driven by its Jio Bharat V2 model capturing 33% share.

Future Market Outlook

CMR estimates the India’s smartphone market to grow 7-8% in 2024, driven by a strong demand for 5G smartphones. 5G smartphone shipments are expected to surge by over 40% YoY. 4G feature phones is anticipated to grow >10% in 2024.

According to Menka Kumari, Analyst-Industry Intelligence Group, CyberMedia Research (CMR), “The >300% YoY growth in 5G smartphone shipments in the INR 10,000-13,000 price segment reflects the growing democratization of 5G in lower price tiers. In 2024 and beyond, we anticipate this trend to pick pace. Additionally, the emergence of Gen AI smartphones and the increasing popularity of foldable devices in the premium segment are set to reshape the industry landscape, intensifying competition and expanding market opportunities.”