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Wednesday, November 25, 2020

Indian smartphone market sets new sales record

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India’s smartphone market set a new record in the third quarter (July-August-September) of the year 2020. According to the latest research from Counterpoint’s Market Monitor service, the smartphone market clocked highest-ever shipments in a single quarter. The smartphone shipments in the country grew 9% year-on-year (YoY) to reach over 53 million units in the quarter, an all-time high for the market. “The push from the brands coupled with the pent-up demand due to the lockdown and strong sales on online platforms led to this growth,” says the report.
“The Indian smartphone market is on a recovery path as the lockdown restrictions have been relaxed. The market has shown a consistent growth for the last few months. It saw strong demand during the Independence Day period in August as major online platforms hosted massive sales,” said senior research analyst Prachir Singh commenting on the market dynamics.
Here’s all that helped the market set this record and other key highlights:
* Samsung led the Indian smartphone market with 24% shipment share for the first time since Q3 2017, Xiaomi followed closely with 23% share. Samsung saw 32% YoY growth.
* Xiaomi remains the top online brand. The company witnessed strong demand for its Redmi 9 and Note 9 series during the quarter.
* The market saw an increase in average selling price (ASP) of smartphones. “Due to the pandemic, Indian consumers have ended up saving on leisure activities. These savings are now being funnelled into smartphone purchases,” says the report.
* The mid-tier segment (Rs 10,000-Rs 20,000) emerged as the most-popular segment. The segment gained its highest-ever shipment share in a quarter.
* The focus on online channels increased. “Even the offline-centric brands like vivo, OPPO and Itel are increasing their online presence due to the changing consumer behaviour. Though online channels remain in focus, OEMs are also trying to leverage new opportunities in offline channels in Tier 2 and Tier 3 cities. In this regard, Xiaomi launched ‘Mi store on Wheels’, Samsung launched Galaxy M01 Core and vivo announced more retail discount,” says the report.
* Vivo entered the premium market with its X50 series. The company that holds No. 3 position in the market became the first OEM to launch a gimbal camera phone.
* Realme expanded C-series with multiple launches to leverage the pent-up demand. Its Narzo series also gained significant traction in the market.
* Apple led the premium segment (Rs 30,000 above). The company beat OnePlus even before its 2020 flagship launch, driven by strong demand for iPhone SE 2020 and iPhone 11.
* OnePlus remained the top brand in the affordable premium segment (Rs 30,000-Rs 45,000), driven by OnePlus 8 sales. The company entered the upper mid-tier (Rs 20,000 – Rs 30,000) with its Nord series. The initial quarter saw OnePlus Nord emerge as the best-selling model within the segment.

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