Samsung, a South Korean technology giant, could soon leave Xiaomi behind to become the largest smartphone brand in India. In terms of volume, Xiaomi is currently the biggest smartphone player in the country. But in the coming quarters, this position can be grabbed by Samsung. The EMI and financing schemes that Samsung offers to its customers are adding to the growth of the company. Faisal Kawoosa, chief analyst at Techarc, said that by Q2 2023, Samsung could capture 23-24% smartphone market share in India, which would leave Xiaomi behind with a 19-20% share.
Samsung is offering a ton of options to customers looking for both 4G and 5G phones in India. This, coupled with the fact that many Indians now don't want to go for Chinese brands, is fueling the growth of Samsung. According to an ET report, Kawoosa said that as the selling prices climb up, Xiaomi's ability to sell devices in India diminishes. The analyst said that around Rs 20,000 mark, Xiaomi's acceptability in the country is much less than Samsung's acceptability.
Samsung has a Good Chance to Beat Xiaomi
As per Counterpoint Research, Samsung is already the market leader when it comes to revenue market share in the country. According to Techarc, Samsung has a good chance of beating Xiaomi to the top.
Talking about the smartphone market next year, Techarc believes that the macroeconomic issues will again lead to a decline in the shipments of the devices. The smartphone market in 2022 is also likely to see a drop in shipments year-on-year. But IDC believes that in 2023, smartphone shipments will go back to the level of shipments in 2019. Many users are expected to go for new 5G phones in 2023 as 5G proliferates in the country, which could be a factor in boosting device sales. The average selling price (ASP) of smartphones is expected to go up because of the high demand for 5G phones next year.