Indian smartphone market rebounds in Q4 2023
Growth is expected in 2024 with affordable 5G and pandemic period replacement cycle.
The Indian smartphone market rebounded 20% year-on-year with 38.9 million units during the Q4 shipments in 2023, analyst company Canalys said.
In its report, Canalys said smartphone firms capitalised on the demand of the strong festive season, as well as the growing market for affordable 5G devices this 2024.
For 2023, India’s smartphone market maintained stability with 148.6 million shipments overall, a minor drop of only 2%. According to Canalys, the market showed resilience due to improved consumer confidence in the latter part of the year, despite inventory challenges, minimal inflation improvements, and fluctuating demand.