1 October 2023
By Seungwoo Song
With 1.4 billion people, India has the world's biggest population and a young average age of 28. In the second quarter of this year (April to June), India's GDP expanded 7.8% yearly, continuing its strong growth in the fiscal year 2022/23 (April 2022 to March 2023) and this quarter. It differs from China, where the weakening economy and slow real estate market make it doubtful that it would reach its growth objective of approximately 5%.
The only country after China in the world's smartphone market is India. 151.6 million smartphones were sold only last year. Samsung Galaxy has regained the top spot in India that it lost to Xiaomi in 2018 and growing its impact. This stands in stark contrast to the Samsung Galaxy's market share, which in China is just about 0%.
According to India's sales rate in 2022~2023, Samsung defeated Xiaomi to maintain its top spot, although Chinese smartphone makers Xiaomi, Vivo, Oppo, and Realme collectively held up to 55% of the market in the second quarter. However, the overall market share of Chinese smartphone manufacturers has not avoided the declining trend since the first quarter of 2022. Both the Indian government's policies and the slowdown in the growth of the smartphone industry in India are significantly impacted.
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