According to a survey published by the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, India’s smartphone market declined by 10% YoY (year over year) in the first half of 2023, shipping 64 million units overall.

2nd quarter of 2023 results The market shipped 34 million units in the second quarter of 2023, an increase of 10% over the first quarter but a decline of 3% year over year. Vendors and channels were said to have concentrated on getting rid of inventory in the second half of the year before the holiday season by offering discounts, special deals, and price reductions.

Variations in the Average Selling Price The average selling price (ASP) of smartphones decreased by 8% QoQ but increased by 13% YoY to reach US$241 in the second quarter, despite consecutive quarters of growth. In comparison to the prior year, the percentage of smartphones in the sub-US$200 market dropped from 70% to 65%, representing an 11% YoY drop. The mid-to-high-end segment (US$400–$600) expanded by 34% YoY in the second quarter of 2023, holding a 5% share, while the mid-range segment (US$200–US$400) stayed consistent with a 22% share. The premium segment (US$600+) experienced the fastest growth, increasing by 75% year over year and gaining a 9% share.

Performance of the brand and channel Overall, shipments to the online channel decreased by 15% year over year, while those to the offline channel grew by 11% and gained a market share of 54%. The reduction in online channel shipments was largely caused by internet-heavy players like Xiaomi and Realme.

Apple experienced the most YoY gain among the top ten smartphone manufacturers, with an average selling price of $929. Tim Cook, CEO of Apple, stated in the firm’s earnings call that the company “continued to see strong results in emerging markets, driven by robust sales of iPhone, with June quarter total revenue records in India, Indonesia, Mexico, the Philippines, Poland, Saudi Arabia, Turkey, and the UAE.” Apple’s growth was “strong double digits” in India. Although its average selling price fell by 14 percent YoY to US$346 at OnePlus, the company nevertheless saw a healthy growth of 61 percent. With its reasonably priced C series devices, POCO experienced the fastest growth.

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