Apple recorded its highest-ever quarterly shipments in India in Q3 2023. According to the latest report from Counterpoint Research, the brand shipped more than 2.5 million iPhones in the quarter ending September 2023. The report reveals that the number indicated a 34% growth compared to the corresponding quarter last year.
Apple has achieved the milestone while the overall year-on-year market growth remains unchanged. Despite the significant boost in shipments, Apple continues to have a single-digit market share, whereas Samsung dominated the market for the fourth consecutive quarter. Let’s take a look at all the market share information revealed by the Counterpoint research report.
Apple Records Highest Ever iPhone Shipments in India in Q3 2023
According to the Counterpoint Research report, the ultra-premiumisation trend in India is steadily gaining momentum with each passing quarter. Thanks to the various incentive programs like exchange bonuses and bank offers along with the availability of easy financing, consumers are considering smartphones over Rs 45,000. Apple seems to benefit from this consumer behaviour shift. Additionally, the launch of the iPhone 15 with USB-C, Dynamic Island, etc., and the local manufacturing has also helped the Cupertino-based tech giant break new ground.
As per TechCrunch, the iPhone 14 also contributed to the record quarterly shipment. The leading publication quotes Counterpoint to reveal that the iPhone 14 makes up for over a third of the iPhone shipments in the Indian smartphone market in 2023. Tarun Pathak, Research Director at Counterpoint, told TechCrunch that Apple’s market share was 4.5% last year but is expected to grow to 6%, thanks to Apple’s financing and devices.
Samsung and Xiaomi Continue to Dominate the Indian Smartphone Market
Samsung continued to be the market leader in Q3 2023 in India with a 17.2% market share. Despite a drop from 19.5% market share last year, the South Korean brand retained the top spot for the fourth consecutive year. According to the Counterpoint research, the main drive behind Samsung’s dominance is the success of the Galaxy A and M series devices, aggressive push in the offline market, better price parity across offline and online channels, focus on the premium segment, and innovation through its Galaxy S series devices.
In the second spot was Xiaomi, with a 16.5% market share. Xiaomi’s success was driven by its expansion in the offline market, the overwhelming response to the Redmi 12 series, and the 5G push in the budget segment. In the third spot is Vivo, with a 15.9% market share. It’s also the fastest-growing brand in the top five with an 11% YoY growth, thanks to a robust offline presence, the success of iQOO in the premium mid-range segment, and the focus on colour, material, and finish of its devices.
Speaking of the yearly growth, Transsion brands, including Tecno, Infinix, and itel, grew the fastest in the overall market with a 41% YoY growth. On the other hand, Nokia marked 31%, Motorola recorded 27%, Realme reported 7%, and Google witnessed a 6% YoY growth in Q3 2023 in India. Counterpoint also notes that OnePlus was the top brand in the affordable premium segment, between Rs 30,000 and Rs 45,000, with a 29% share. The strong sales of the OnePluss 11R helped the brand crack this feat.
Lastly, the Counterpoint report notes that budget 5G and 4G feature phones were a sleeper hit in Q3 2023. Thanks to smartphone brands offering 5G devices in Rs 10,000 – Rs 15,000 bracket, 5G smartphones made up 53% of shipments with 35% penetration in the budget segment. Similarly, the 4G feature shipments increased 32% in Q3 2023 thanks to JioBharat devices.