According to a research by Canalys, the Indian smartphone market remained stable in the second quarter, shipping 36.1 million devices, a modest 1% decrease from the prior year. Concerns were caused by the first quarter’s 20% decline, but the market performed better in the second quarter, increasing by 18%.
With 6.6 million sales, Samsung continued to have a commanding market share of nearly 18%. Xiaomi took third place with 5.4 million phone sales, closely followed by Vivo with 6.4 million.
The small improvements in macroindicators, such as higher manufacturing production and lower inflation rates in the second quarter, are responsible for the stability of the Indian smartphone market. Vendors focused on long-term sustainability while adapting to the changing business climate as inventory levels rose.
India currently ranks as the second-largest smartphone market in the world, and the country is predicted to add 300 million new internet users, which will increase demand for smartphones. Companies want to take advantage of this by advertising their reasonably priced 5G portfolios during the forthcoming Cricket World Cup in India in October.
While offline transactions still account for the majority of revenues in India, firms are also working to increase their online visibility. Apple and Samsung have launched retail locations in significant cities in response to customer demands, with the goal of improving the whole shopping experience.
Analysts are nevertheless wary despite the market’s stability, pointing out possible hazards associated with unforeseen circumstances like the monsoon season. However, government initiatives to increase demand ahead of the country’s elections the next year may help the Indian smartphone industry expand. Recognizing the significance of both channels in satisfying a variety of customer expectations, vendors work to maintain a balance between physical and online sales.