BOSTON–(BUSINESS WIRE)–According to new research from Strategic analysisIndia’s smartphone sales revenue increased by +17% YoY in the first eight days of sales of the festive season from September 23rd at 30e, 2022, driven by growth in wholesale ASPs of +19%. Samsung leads the pack with 26% market share, followed by Xiaomi and Realme.
Abhilash Kumar, an industry analyst at Strategy Analytics, said: “We estimate that 12.8 million units of smartphones were sold during the first week of holiday sales in India this year. It recorded revenue of $2.1 billion, up +17% YoY. Smartphone Wholesale ASP improved +19% YoY to $165. This year’s sale was more inclined towards mid-range and high-end smartphones compared to lower tiers. This is one of the reasons for the strong growth of ASP. In terms of units, sales were down -2% compared to the first week of the holiday season due to lower sales of entry-level devices which were affected by high inflation and recession-related concerns. But the growth in ASP made up for the decline in volume and generated decent revenue growth. »
Commenting on vendor dynamics and Samsung’s performance, Linda Sui, Senior Director of Strategy Analytics, added, “Samsung, Xiaomi and Realme are the top 3 beneficiaries of this festive season sale. These three brands combined accounted for 62% of overall sales by volume. Samsung topped the charts in the first week of holiday season sales this year, with a 26% market share. We estimate that Samsung sold 3.3 million smartphone units this year. It has successfully overtaken Chinese vendors thanks to attractive price discounts across all price points, as well as increased channel presence. This time, Samsung devices have been reduced to a maximum of around 60% from their actual retail price. High-end models like S22 Ultra, S21 FE, S22 Plus, Z Flip 3 were discounted generously and sold pretty well during the holiday season. In the mid-range, the Samsung Galaxy F13 and M13 were heavily discounted and sold well.
Commenting on the performance of Chinese brands, Rajeev Naïr, Principal Analyst at Strategy Analytics, added, “We estimate that Xiaomi and Realme sold 2.5 million units and 2.2 million units respectively this year, ranking in the top three with 20% and 17% of market share. Chinese brands faced strong headwinds in India and limited budgets on channel promotions, which led to a weak performance this year. Xiaomi cedes the leading position to Samsung.
Commenting on Apple’s performance, Abhilash Kumar, Principal Analyst at Strategy Analytics, added, “Apple mightn’t make the top 3 in terms of units, but sold well. Apple devices have been discounted by up to 33% at major online retailers. Second generation devices like the iPhone 13 have been generously discounted and well received. We think the iPhone 13 was the best-selling model for two reasons. First of all, it is the last of all the models available for sale with an attractive discount. Second, aside from satellite connectivity and collision detection, the look and feel of iPhone 14 is quite similar to iPhone 13 and the processor is also the same in both devices. Therefore, people already have the option of buying a cheaper iPhone 13. We believe that following the iPhone 13 discount, its demand will increase further in the following festive sales.
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