India's smartphone market on the mend, Q2 CY23 shipments slip just 3%

India’s smartphone handset shipments declined just 3 per cent year-on-year (YoY) in the second quarter (Q2) of calendar year 2023 (CY23), according to a report by Counterpoint. 

The premium segment grew 112 per cent YoY during the quarter. Although Samsung pipped Apple in the premium smartphone segment (>Rs 30,000) after one year with a 34 per cent market share, the iPhone maker continued to lead the ultra-premium segment (>Rs 45,000) with a 59 per cent share.

Though overall shipments declined for the fourth consecutive quarter, their magnitude reduced significantly, from 19 per cent YoY in Q1 to 3 per cent in Q2. Pent-up demand and improving macroeconomic conditions helped the market close at less than the expected decline, it added.