Smartphone market in India has seen a record-high growth at the end of October, according to a report by IDC. “India’s smartphone market registered a massive year-over-year (YoY) growth of 42% in October shipping 21 million units,” said IDC.
The report says that the growth was driven by multiple online sale festivals and continuing pent up demand from the third quarter of 2020. “This is the highest ever October shipments and 2nd highest for a month, following 23 million units in September 2020, an all-time high for a single month,” the report stated.
One of the key highlights of this month was that 25% of the market sat in top tier cities, namely New Delhi, Mumbai, Bengaluru, Chennai, and Kolkata, registering more than 50% YoY growth in October. Further, the Market Operating Price stood at $190 in the month of October as per the report.
“Online channels fueled growth in the US$100-200 price segment, clocking in 93% growth YoY, collectively accounting for almost half of the sales in October. The midrange segment (US$200-300) accounted for almost a fourth of devices sold in October and the premium segment (US$500+) registered 16% YoY growth in October.”
When it comes to the top 5 companies in the smartphone market, Xiaomi had a 24.8% market share, Samsung had 20.6% share, Vivo had 17.8% share, Realme grabbed 13.8% share and Oppo secured 12.3%.