India's smartphone shipments stabilize after three quarters of decline: Report
A man takes a photo with a Samsung phone with multiple cameras in Old Delhi, India on Oct. 28, 2022.
India's smartphone market stabilized in the second quarter with 36.1 million units shipped, according to a report by Canalys.
That figure represents a 1% dip from a year ago, far better than the 20% drop in the first quarter. Shipments also declined by 27% and 6% in the fourth and third quarter of 2022, respectively.
"With a troubled few quarters behind us, the market has finally gained momentum heading into the second half," said Sanyam Chaurasia, analyst at Canalys. "During Q2, there was a slight improvement in macro indicators, with increased manufacturing output and reduced inflation rates."
Compared with the previous quarter, the market grew 18% as inventory levels improved, which Canalys attributed to a better business environment.
"Smartphone vendors are acclimatizing to the dynamic business environment, focusing on ensuring long-term sustainability," said Chaurasia.
Samsung continued to dominate in the second quarter, claiming about 18% market share with 6.6 million shipments, according to Canalys. Vivo followed closely shipping 6.4 million phones, while Xiaomi ranked third with 5.4 million shipments.
Source: CNBC
