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In the fourth quarter of 2023, the Indian smartphone market witnessed significant growth as reported by the Techinsight report. Smartphone shipments in India surged by 28% year-on-year, reaching 38.2 million units. This increased number shows the growing demand and further expansions for phone makers.
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There could be various factors for the growth. Firstly, the holiday sale traditionally boosts smartphone sales and thus increases purchasing power. Additionally, the rapid advancement of 5G technology has also increased new opportunities. After the rollout of 5G networks the availability of 5 G-enabled devices has increased with low latency.
In terms of market share, Xiaomi, Vivo, and Samsung secured the top three positions in the Indian smartphone market in the year 2023. Xiaomi held a market share of 18.8%, followed by the vivo with 17.8%, and Samsung with 16.2%. These brands have earned widespread product performance and strong market presence.