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India's 5G smartphone shipment share grew to 57 per cent in the third quarter (Q3) of this year, marking a 78 per cent (year-on-year) growth, a new report has said.

According to the CyberMedia Research (CMR), Samsung led the 5G smartphone market in the country with a 23 per cent market share, followed by Vivo at 16 per cent.

Worth $11 billion 5G smartphones have been shipped in Q3 2023.  

"The 5G smartphone segment continued to headline the market growth, with 44 new launches, and a 57 per cent market share. Foldable smartphones experienced remarkable growth, doubling year-on-year. Furthermore, 4G feature phones showed tremendous growth, driven by aspirational India and the demand for companion devices in Urban India," said Shipra Sinha, Analyst- Industry Intelligence Group, CMR.

While India's smartphone market remained flat year-on-year, the overall mobile market saw a slight one per cent decline, the report said.

The value-for-money smartphone segment (Rs 7,000-25,000) constituted the largest share at 69 per cent. Despite this, its shipments decreased by 11 per cent (year-on-year).

The affordable smartphone segment ( less than Rs 7,000) experienced substantial growth, surging by 78 per cent (year-on-year).

The premium segment (Rs 25,000-50,000) witnessed an 11 per cent (year-on-year) growth. Additionally, the super-premium smartphone segment (Rs 50,000- 1,00,000) and the uber premium segment ( greater than Rs 1,00,000) experienced outstanding year-on-year growth rates of 87 per cent and 136 per cent, respectively, according to the report.

Apple captured a six per cent market share in the smartphone market in Q3 2023. Attractive deals on its previous generation phones resulted in a 44 per cent (year-on-year) growth in its shipments. 

The 4G feature phone shipments experienced more than 300 per cent (year-on-year) growth during the quarter. This growth was driven significantly by JioBharat K1 Karbonn and JioBharat V2, collectively capturing 63 per cent market share. 

The overall feature phone market saw a decline of six per cent (year-on-year). Notably, 2G feature phone shipments decreased by 27 per cent (year-on-year), the report showed.

Moreover, the analysts estimated a slight overall decline of 1-2 per cent in smartphone shipments for the entire year.

"Compared to a year ago, smartphone OEMs will exit 2023 with better inventory levels. As we move forward, OEMs will look to maintain a leaner product portfolio, backed by aggressive marketing to gain market share," said Menka Kumari, Analyst-Industry Intelligence Group, CMR. 

The analysts also estimated the overall smartphone shipments for the entire 2024 to potentially grow by 8-9 per cent, with 5G shipments anticipated to grow over 40 per cent (year-on-year).