India's smartphone market stabilized in the second quarter, with 36.1 million shipments, as per a Canalys report. Sanyam Chaurasia, analyst at Canalys, spoke favorably of this development. He commented, "The last few quarters have been challenging, but the market has picked up momentum as we move to the second half of the year." Samsung continued to dominate in the quarter, with a market share of 18% and 6.6 million shipments, according to the same report.
The market for smartphones in India stabilized in the second quarter, with 36.1 million units being shipped, according to a Canalys report. This figure is a marginal 1% lower than its state in the same period of the previous year, significantly less than the 20% dip recorded in the first quarter. Shipments had also declined by 27% and 6% in the fourth and third quarters, respectively.Sanyam Chaurasia, analyst at Canalys, commented: "Having gone through a few turbulent quarters, the market is finally starting to gain traction heading into the second half. In Q2, there was a remarkable improvement in macro indicators, amidst escalating manufacturing output and lowered inflation rates."The market saw an 18% growth compared to the previous quarter, which Canalys attributed to better business conditions. Chaurasia added: "The smartphone vendors have settled into the ever-changing state of their business, concentrating on securing their long-term viability."Samsung retained its position at the top in the second quarter, with an estimated 18% market share and 6.6 million shipments, as per Canalys. Vivo followed behind with 6.4 million deliveries, and Xiaomi in third with 5.4 million shipments.
Varun Mishra, senior analyst at Counterpoint Research, told CNBC that India, already the world's second-largest smartphone market, is anticipated to add 300 million new internet users. Chaurasia commented that companies will likely be pushing their budget-friendly 5G products in the lead-up to the Cricket World Cup in October. He stated, though, that risks related to the monsoon season could reduce demand. Notwithstanding that, he noted that the government is endeavouring to heighten demand ahead of the national elections next year.
Canalys noted that as Indian customers prefer to purchase phones in person, businesses have tailored their retail strategies accordingly. In April, Apple opened two stores located in Delhi and Mumbai, while Samsung announced that it will establish 15 top-notch experience stores around the country in prominent cities such as Delhi, Mumbai, and Chennai by the end of 2021.
Chaurasia noted that the offline consumer demand has increased significantly both in rural and urban areas due to a positive trend in retail consumer preferences. On the contrary, he stated that online demand has been spasmodic, with mainly urban customers taking part in e-commerce sales events. He further commented that vendors are making efforts to bring about a balance between offline and online sales.
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