Apple leads India’s premium smartphone market with 63% marketshare of the segment

India’s smartphone market declined 10% year-over-year (YoY) shipping 43 million units in quarter three of 2023 (July-September), according to the International Data Corporation ’s (IDC) Worldwide Quarterly Mobile Phone Tracker. However, there was a bit of good news for Apple.

The sub-US$300 segment underperformed, as shipments declined by 15% YoY. IDC says the premium segment of $500+ continued to remain the highest growing price band with 64% growth YoY and 8% share. Apple led with a 63% share of that space, followed by Samsung (22%) and OnePlus (9%).

Quarter three was the lowest third-quarter shipment for India since 2019 despite an earlier onset of the Diwali festivities. Weakening demand and increasing device prices negatively impacted festive buying, according to IDC.

The research group says that high channel inventory continued to be a concern even with vendors’ efforts on channel schemes and price corrections to clear the stocks. Overall, the ASP (average selling price) reached a record $226, growing by 15% YoY and 6% quarter-over-quarter.