The Indian smartphone market experienced a resurgence in the fourth quarter of 2023, with a 20% year-on-year increase in shipments, according to research by Canalys. During this period, smartphone vendors in India shipped 38.9 million units, indicating a positive turnaround for the market after five consecutive quarters of decline.

Samsung maintained its position as the market leader, with a 20% market share and shipments of 7.6 million units in Q4 2023. Xiaomi followed closely behind, securing second place with 7.2 million units shipped. Vivo claimed the third position, shipping 7 million units. Realme and OPPO rounded out the top five vendors, with shipments of 4.5 million and 3.7 million units, respectively.

Despite the overall decline in 2023, which saw a minor drop of 2% in smartphone shipments, the Indian market demonstrated resilience in the latter part of the year. Improved consumer confidence and investment in mainline retail space contributed to the stabilization of the market. Brands such as Xiaomi and Realme saw their highest offline shipment share in Q4 2023, highlighting the importance of offline channels in reaching customers.

The report also noted that the premium segment experienced robust growth due to easy financing options, incentive schemes for retailers, and rising disposable income. Apple capitalized on the festive sales during Diwali by pushing its latest iPhone 15 series, which accounted for more than half of its Q4 shipments in India. Samsung also achieved growth in the premium segment, driven by aggressive retail targets and the launch of the Galaxy S23 FE in Q4 2023.