India’s smartphone shipments declined 3% YoY in Q2 2023 (April-June). Though this decline was the fourth consecutive quarterly decline, its magnitude reduced significantly, from 19% in Q1 to 3% in Q2. The base effect, pent-up demand and improving macroeconomic conditions helped the market close at less than the expected decline. However, the premium smartphone segment presented a different picture, growing 112% Year-on-Year in Q2 to contribute a record 17% to the overall shipments. As per the report of Counterpoint research.


In Q2 2023, OEMs saw improvement in the inventory and demand situation ahead of the coming festive season. Aggressive measures were implemented by OEMs as well as channels during the quarter to clear existing inventory through multiple sales and promotions. At the consumers’ end, falling inflation and better growth prospects facilitated demand recovery.

Premium smartphones sales in India.