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Image Credit: Bloomberg

New Delhi: Apple recorded its highest ever quarterly shipments in India, crossing 2.5 million units, in the third quarter (July-September period) this year, a new report showed on Wednesday.

Experiencing a high-growth phase in India, Apple recorded 34 per cent growth (year-on-year).

“Q3 2023 also marked the best quarter for Apple’s shipments in the country, which crossed 2.5 million units,” said research analyst Shubham Singh.

Premiumisation has started in the world’s second largest smartphone market and Apple has again got the timing right to benefit from this trend through its devices and financing offers, Singh added.

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India’s smartphone shipments remained flat in the third quarter.

After declining for almost a year, the smartphone market is showing signs of recovery with a gradual pick-up in consumer demand going into the all-important festive season.

“We saw some interesting launches, with key features like 5G and higher RAM (8GB) diffusing to affordable smartphones (sub-Rs 10,000). Many OEMs are now coming up with interesting financing schemes through partnerships with financial institutions and by marketing the per-day cost of buying a new device,” said senior research analyst Shilpi Jain.

Samsung maintained its leading position for the fourth consecutive quarter with a 17.2 per cent share driven by the success of its A and M series.

“Samsung was closely followed by Xiaomi, with its 16.6% market share driven by strong demand for the Redmi 12 series and offline expansion. Xiaomi is effectively capitalizing on the opportunity to provide 5G technology in the budget segment. Its latest Redmi 12 5G series received an overwhelming response from consumers,” said Singh.

vivo retained the third spot but was the fastest growing brand among the top five, experiencing 11 per cent YoY growth.

Strong offline presence, focused approach to CMF (Colour, Material, Finish), and targeting the mid-premium segment through its sub-brand IQOO drove the demand for vivo, the report mentioned.

OnePlus was the top brand in the affordable premium segment (Rs 30,000-Rs 45,000) with a 29 per cent share driven by strong sales of the OnePlus 11R.

In Q3, the share of 5G smartphone shipments reached 53 per cent, said the report.