According to the most recent study from Counterpoint's Market Monitor service, India shipped roughly 37 million smartphones in Q2 2022 (April–June), a growth of 9% YoY but a decrease of 5% QoQ. A reduced base in Q2 2021 as a result of the second COVID-19 wave was the primary driver of the YoY growth. The QoQ fall was brought on by macroeconomic conditions that are having an effect on consumer demand.
Prachir Singh, a senior research analyst at Counterpoint, made the following statement regarding market dynamics: "We witnessed the consumer demand dropping QoQ during the quarter, notably in May and June. Instead of making a new purchase, consumers are choosing to fix their equipment or buy a refurbished one. The entry and budget categories are where this trend is more obvious. The decrease in demand is causing inventory problems for practically all of the companies. At the end of June, India's smartphone market had more than 10 weeks' worth of inventory on hand—more than double the usual amount. In order to get rid of this inventory and get ready for the holiday season, brands were spotted actively pushing offers.
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In India, the mobile phone market grew by 6% YoY but fell by 9% QoQ in the second quarter of 2022. The primary cause of the feature phone market's QoQ loss of 17 percent was the decline in customer demand. Itel holds a 25% market share in the feature phone industry in India as of Q2 2022. Itel has been the top feature phone producer for eleven straight quarters.
Despite a 26 percent drop from the previous year, Xiaomi maintained its dominance in the Indian smartphone market. Samsung maintained its second-place ranking in Q2 2022 with a YoY rise of 14%. It maintained its position as India's top-selling 5G smartphone brand.
Following closely behind in positions third, fourth, and five are Vivo, Realme, OPPO, and other brands.
