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India to See 70% Expansion in Smartphone Market Share by 2023

: The India is expected to see a 70% expansion in its smartphone market share by the end of 2023, according to a report. 5G-capable smartphones will drive the growth, with Samsung, OnePlus and Vivo leading the market.

A report released on Tuesday by CyberMedia Research (CMR) has predicted that India will see a 70% expansion in its smartphone market share by the end of CY2023. The India recorded more than 13 times growth in its shipments from the year of its initial introduction in 2020. Menka Kumari, Analyst-Industry Intelligence Group (IIG), CMR, said “From a mere 4 per cent in CY2020 to a potential more than 45 per cent market share in CY2023, smartphones have definitely come a long way.”

In CY2022, close to 100 5G smartphones were launched in the India market. Kumari added “In 2023, we anticipate close to 75 per cent of the new smartphones to be introduced in the India market to be 5G-capable.” Samsung, OnePlus and Vivo led the India market in 5G smartphone shipments in CY2022, while Xiaomi and realme were the major contributors in the 5G Value for Money (Rs 10,000-Rs 25,000) price segment.

Shipra Sinha, Analyst-Industry Intelligence Group (IIG), CMR, said “Going forward, we anticipate further momentum for 5G smartphone shipments in the new year driven by strong consumer demand and aggressive 5G network deployment by Indian telcos.” The key for mass 5G adoption in India lies in the introduction of 5G smartphones in the affordable smartphone segment (less than Rs 10,000). Sinha added “Alongside, better 5G availability and accessibility will be key for consumer experience.”

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