Canalys: India's smartphone shipments to reach 38.9 million units in Q4 2023

Indian smartphone vendors took advantage of strong demand during the festive season to drive fourth-quarter shipments to 38.9 million units, a sharp 20% year-on-year increase, according to the latest research from Canalys.

Samsung maintained its leading position with a 20% market share and 7.6 million units shipped in the fourth quarter of 2023. Xiaomi continued its strong performance, ranking second with 7.2 million units shipped. Vivo ranked third with 7 million units shipped; Realme and OPPO (excluding OnePlus) ranked in the top five with 4.5 million and 3.7 million units shipped, respectively.

The Indian smartphone market remained stable in 2023, with total shipments of 148.6 million units, a slight decline of 2%. Consumer confidence improved in the second half of the year, suppliers faced inventory challenges, inflation improved little, and demand was volatile for most of the year, but the market proved resilient.

“Growing investments in mainstream retail through 2023 will not only be a boon for vendors but also stabilize the overall market,” said Canalys senior analyst Sanyam Chaurasia.

Brands such as Xiaomi and Realme achieved an all-time high offline shipment share in the fourth quarter. Xiaomi democratized its product portfolio with equal contribution to offline and online channels, achieving the highest offline channel contribution quarter. Its Redmi 12 5G and recently launched Redmi 13C series contributed to its offline share, with shipments exceeding 1 million units each. Similarly, Realme's shipments had equal channel contribution, with the Narzo series driven by e-commerce, while the rest of the product portfolio continued to dominate the offline channel. To further enhance the brand's position in the premium market, the brand should continue to focus on enhancing the confidence of channel partners.