Last week, IDC released the Q3 global mobile phone report and now the firm has posted a new report solely targeted at the Indian mobile phone market. According to the report, smartphone companies shipped a record 46.6 million units in the country with 26.5% quarter-over-quarter(QoQ) and 9.3% year-over-year(YoY) growth. Xiaomi still leads the market, whereas Realme showed the highest growth.
As per Upasana Joshi of IDC India, the online channel witnessed a record-high market share of 45.4% with YoY growth of 28.3% thanks to attractive cashback and buyback offers as well as No Cost EMIs and other financing options. On the other hand, offline channel viewed 2.6% YoY decline even though the offline players tried to counter online players with their offers.
The feature phone market which accounted for 43.3% of total mobile phone shipments observed 17.5% YoY decline. As for smartphones, the budget models under $200(~₹14,000) estimated for 80% of the total shipments. While mid-range smartphones ranging between $200-$500(~₹14,000 – ~₹36,000) garnered 18.9% of market share by virtue of devices like OnePlus 7, Redmi K20 Pro, and Vivo V15 Pro.
The $200-$300(~₹14,000 – ~₹21,000) segment saw 47.8% YoY growth owing to phones like Galaxy A50, Redmi Note 7 Pro, and Vivo Z1 Pro. Lastly, in the premium segment($500+ / ~₹36,000+), Apple continued to dominate the market with a 51.3% market share because of old gen models like iPhone 7(128GB), 8, XR as well as the new 11 and 11 Pro series.
Talking about companies, Xiaomi leads the market with 27.1% followed by Samsung, Vivo, Realme, and Oppo with 18.9%, 15.2%, 14.3%, and 11.8% respectively. All the top companies showed YoY increase except for Samsung which dropped by 8.5% in YoY growth. Realme was the most successful with a 401.3% YoY growth claiming the fourth position from Oppo. The next in line was Oppo and Vivo with 92.3% and 58.7% YoY growth.
Xiaomi registered 8.5% YoY growth which is not less in any way considering their position. Nevertheless, a tough competition lays ahead for a long-time market leader.