Last Updated: August 03, 2023, 17:23 IST
Vivo seems to have done well in the offline market at the expanse of brands like Xiaomi
The Indian smartphone market is moving thanks to the premium segment but the growth factor is still dependent on the budget market, where the demand has slowed down.
Vivo is the surprising leader of the Indian smartphone market in Q2 2023 as per the latest industry reports. The company seems to have benefited from its offline approach, as the online shipments dropped during the period as per the details shared in a report by IDC this week.
Vivo’s position was already growing thanks to its market strategy and now with Xiaomi droppin way down to number 5 on the list, the brand has managed to surpass the likes of Samsung to become the leading brand in the market. Vivo’s share does not include the performance of iQOO which is a sub-brand.
The other big winners from this quarter have been OnePlus, Poco and Apple. Vivo has seen its share go up from 14.5 percent to 16 percent, while OnePlus, Apple and Poco’s share have gone up to 7.2 percent, 5.5 percent and 5 percent, respectively.
“POCO with its very affordable C series models registered the highest growth amongst the top ten brands,” the report says. Techno and Infinix are the other two brands that wrap up the top 10 position in the market, which means the likes of Nokia and Motorola are part of the Others on the list.
As for the losers, Samsung’s share has dropped from 16.3 percent to 15.7 percent, while Xiaomi’s drop is the heaviest, as it went from having 17.6 percent share to just 11 percent in the space of one quarter. Realme is another brand with cause for concern, as its share has dropped to 12.6 percent, putting it in the third spot, after being perilously close to usurping Xiaomi in the last quarter.
But the Indian smartphone market as a whole continues to mimic the global market as it declines by 10 percent year-on-year. As we have noticed, the budget and mid-range segment continue to be the culprits for the drop, as the premium range starting from Rs 25,000 going up to Rs 50,000+ have grown in the higher double-digit numbers, which explains the growth of Apple with iPhones sales and Samsung also winning the premium race in the country.
