Smartphone shipments grew 24 percent on quarter-on-quarter and 5 percent year-on-year, even surpassing those of US during the quarter.
Chinese phone maker Xiaomi beat rival Samsung to the first place in India’s smartphone segment, at a time when smartphone shipments in the country touched an all-time high in the festive season despite a weak rupee, according to Counterpoint Research.
OnePlus retained its top position in the premium smartphone segment —phones costing Rs 30,000 and above — in the July-September quarter.
The segment started modestly but grew as the festive season kicked off across the country. Shipments grew 24 percent on quarter-on-quarter and 5 percent year-on-year, even surpassing those of US during the quarter.
Driven by the new Redmi 6 series and the company’s growing offline reach, Xiaomi recorded its highest ever shipments in India in a single quarter. It had a 27 percent market share in this quarter against 22 percent a year ago. Samsung, at second place, retained its market share at 23 percent. Vivo, Micromax and Oppo also made it to the top five.
In the premium segment, Samsung tailed OnePlus with 28 percent market share followed by Apple with 25 percent share. These three brands contributed 83 percent to the segment in this quarter, as against 98 percent in the year-ago period.
Counterpoint Research associate director Tarun Pathak said the premium market is growing faster than the overall market since brands are launching more affordable options in the segment to attract new users. “Rising disposable income of the middle class is also a factor, which gives a positive outlook towards premium smartphone market in India,” he added.
The fourth quarter is expected to be even more competitive and productive, especially the premium segment, with newer models like Google Pixel joining the race.
Anshika Jain, an analyst at Counterpoint Research, said that the weak rupee impacted the supply chains and product planning for brands. However, shipments picked up and reached records due to strong selling in August and September.
“Any inventory accumulation after the festive season will put brands under pressure as they may need to pass on the resulting price rises to consumers. Hence, the festive season is not only crucial for brands but also navigate external headwinds,” she added. – Money Control