It seems that Samsung could be on track to overtake Xiaomi as the largest smartphone brand in India. South Korean technology giant Samsung could soon surpass Xiaomi to become the largest smartphone brand in India. By market volume, Xiaomi is currently the biggest player in the country.
In the next few quarters, Samsung is likely to take over this position. The company offers financing and EMI options to customers which are adding to its growth.
In 2023, Samsung could take over 23-24% of the smartphone market in India, leaving Xiaomi with only 19-20%, according to Faisal Kawoosa, the chief analyst at Techarc.
With so many phone options available today, it can be hard to decide which one is best for you. But if you’re looking for a 4G or 5G phone in India, Samsung is definitely the way to go. The company is seeing a lot of growth in India right now, due in part to the fact that more and more people are shying away from Chinese brands.
As per an ET report, Kawoosa said that Xiaomi’s ability to sell devices in India diminishes as the selling prices increase. The analyst said that at around Rs 20,000 mark, Xiaomi is much less accepted than Samsung.
Counterpoint Research reported that Samsung is currently the market leader in terms of revenue market share. Techarc predicts that Xiaomi has a strong chance of claiming the title.
Techarc believes that the smartphone market next year will experience a drop in shipments due to macroeconomic issues, which is a continuation of this year. In 2022, their shipment levels are expected to fall below those of 2019; however, IDC predicts that by 2023 they will return to normal.
In 2023, as 5G technology becomes more widely available in the country, many users are expected to upgrade to 5G phones. This could cause a rise in device sales due to the high demand for these types of phones. As a result, the average selling price (ASP) for smartphones is likely to increase.
It seems that Samsung could be on its way to becoming the leading smartphone brand in India. With innovative products, financing options, and 5G phones, it is likely that the company will continue to grow.
Only time will tell if Samsung is able to overtake Xiaomi as the largest smartphone company in India. Stay tuned!
Shivendra Tiwari is an Engineer and an MBA in Marketing. He is the Content head at Marketing91 and a thorough Online Marketing enthusiast. Shivendra loves to follow different brands and study their Business and Marketing tactics.