India Smartphone Industry Grew by 23% In Q1 Where Xiaomi Led: Counterpoint Report
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India’s smartphone shipments grew 23 per cent year-over-year (y-o-y) to reach over 38 million units in Q1 2021, according to the latest research from Counterpoint’s Market Monitor service. These were the highest ever first-quarter shipments. New product launches, promotions, and financial schemes, as well as pent-up demand coming from 2020, drove the smartphone market in Q1 2021.
“Continuing with its stellar run, India’s smartphone market registered a third consecutive quarter of record shipments in Q1 2021, riding on pent-up demand. Consumer confidence also increased due to the beginning of a vaccination drive in the country. But these numbers should be taken with caution as a second and more virulent wave of COVID-19 is currently on in the country and is likely to impact the coming quarters. The consumer demand will take a hit due to the ongoing COVID-19 wave and subsequent lockdowns,” said Prachir Singh, senior research analyst, Counterpoint, while commenting on the market dynamics.
India’s mobile handset market grew 19 per cent y-o-y in Q1 2021 due to the strong performance of both feature phone and smartphone segments, the report shared.
“The Chinese brands held a 75 per cent share in the March-ended quarter. Xiaomi led the market with a 26 per cent share, followed by Samsung, vivo, realme, and OPPO. Xiaomi has recently expanded its manufacturing capabilities with new EMS partners, which helped the brand maintain strong shipments during the quarter. All the major brands are focusing on new product launches to drive consumer demand. Samsung maintained a high number of new product launches in its Galaxy M-series, Galaxy F-series as well as the Galaxy S21 series during the quarter. Besides, realme launched its 8 series, OnePlus announced its 9 series and Xiaomi launched its Redmi Note 10 series that has started well. Brands are also focusing on promotions and financial schemes to increase consumer demand,” added Shilpi Jain, research analyst, Counterpoint, while commenting on the competitive landscape and brand strategies.
The feature phone market registered a 14 per cent y-o-y growth during the quarter driven by strong shipments of JioPhone under its new model and subsequent promotions. However, itel led the feature phone market in Q1 2021 with a 21 per cent market share.