A man takes a picture with a Samsung phone with multiple cameras in Old Delhi, India on October 28, 2022.
Nasir Kachru | norphoto Getty Images
India’s smartphone market stabilized in the second quarter with 36.1 million units shipped, according to a Canalys report.
This figure represents a 1% decline from a year ago, which is much better than the 20% decline in the first quarter. Shipments in the fourth and third quarters of 2022 also declined by 27% and 6%, respectively.
“With a couple of troubling quarters behind us, the market has finally gained momentum heading into the second half,” said Canalys analyst Sanem Chaurasia. “During Q2, macro indicators improved marginally, with manufacturing output increasing and inflation declining.”
Compared to the previous quarter, the market grew 18 percent as inventory levels improved, which Canalys attributed to a better business environment.
“Smartphone vendors are adapting to the dynamic business environment, focusing on ensuring long-term sustainability,” Chaurasia said.
Samsung According to Canalys, it continued to dominate in the second quarter, claiming nearly 18 percent market share with 6.6 million shipments. Vivo shipped a close second at 6.4 million phones, while Xiaomi came in third with 5.4 million shipments.
Counterpoint Research senior analyst Varun Mishra previously told CNBC that India is already the world’s second-largest smartphone market and is expected to add 300 million new internet users.
Chaurasia said he expects companies to promote their affordable 5G portfolios during the Cricket World Cup in India in October.
Risks such as uncertainty associated with the monsoon season could dampen demand, he said. Chaurasia said, however, that the government wants to boost demand ahead of national elections next year.
Physical sales still matter.
Kanellis noted that consumers in India prefer to buy phones offline, and this has shaped retail strategies in the country.
in April, apple Opened two retail stores in Delhi and Mumbai. Samsung announced in the same month that it would set up 15 premium experience stores across India by the end of the year in major cities like Delhi, Mumbai and Chennai.
“Offline consumer demand has grown, both in rural and urban areas, due to strong retail consumer preference,” Chaurasia said.
“On the other hand, online demand has been inconsistent and mainly driven by urban consumers during the e-commerce sales period,” he said, adding that retailers are striving for a better balance between offline and online sales.
.
Source by [CNBC News]
