Apple tops India smartphone market in revenue share in 2023, Samsung in volumes: Counterpoint

iPhone maker Apple led India market with the highest revenue in 2023 for the first time while Samsung topped the chart in terms of sales volume, market research firm Counterpoint Research said on Wednesday.

While India’s smartphone shipments remained flat in 2023 at 152 million units, Samsung and Chinese mobile phone makers vivo and Oppo were able to grow their shares, according to Counterpoint’s Monthly India Smartphone Tracker report.

“Apple’s focus on India is also aiding the trend, with the brand surpassing the 10-million-unit mark in shipments and capturing the top position in revenue in a calendar year for the first time, propelled by robust demand for both its latest and older iPhones. The opening of own retail stores and increasing focus on large-format retail through regular promotions contributed to increased offline shipments,” Shubham Singh, Research Analyst at Counterpoint Research said…Read more

Import duty for mobile components slashed to 10 percent

This move is likely to benefit OEMs in reducing costs as well, which might eventually be passed on to the end customer. Says Prachir Singh, senior analyst, Counterpoint Research, “This move can help drop smartphone prices by 3-5 percent, empowering the consumers and making the devices affordable, especially in the entry and budget segments. These segments were the worst hit by the currency fluctuations and have witnessed price-rise in the past one year. We can expect the entry-tier and budget segments to have a positive impact and witness growth in the coming quarters.” Read more

India’s electric vehicle boom stalls over charging challenges

The sector’s focus also needs to turn to rural areas, where the vast majority of India’s 1.4 billion people live, said Soumen Mandel, senior research analyst at Counterpoint Technology Market Research, who added it could take several more years for adoption to pick up…Read more

Samsung bets on smart ring as fitness tech gathers pace

“Galaxy Ring will mark the entry of a major smartphone OEM into that smart ring market and will usher the market to mass adoption, with Galaxy smartphones and other devices connected,” Lee, associate director at Counterpoint Research, told Nikkei Asia, using the abbreviation for original equipment manufacturer…Read more

Exclusive: BYD’s Thai distributor to triple EV dealerships, expand commercial offerings

Thailand accounted for around 20% of BYD’s international sales in the third quarter, according to research firm Counterpoint, maintaining its spot as the automaker’s largest overseas market, where it is also investing 17.9 billion baht ($504 million) to build a factory scheduled to open this year.

EV sales in Thailand made up a little over 7% of all passenger vehicle sales in the country in the third quarter of 2023, Counterpoint data also showed, but it is one of the fastest growing EV markets in Southeast Asia, aided by government subsidies and policies…Read more

TSMC beats profit and revenue expectations in the fourth quarter

“TSMC’s strong ramp-up in N3 and AI applications positions it as a major beneficiary in AI semiconductors,” Brady Wang, associate director at Counterpoint Research, said Tuesday…Read more

Samsung’s Galaxy S24 Phones Go Heavy on Industry’s Next Big Hope: Generative AI

Worldwide smartphone shipments are forecast to have hit a decade low in 2023, with the industry having declined in size for two years straight, according to Counterpoint Research. But in recent months, sales have begun to rebound as the economy improves, with projections for 3.3% growth in 2024, Counterpoint said.

The recent smartphone sector downturn came amid a stall in meaningful leaps in technology that wowed users, such as a front-facing camera, larger displays or faster networks that let people stream content on their mobile devices. Generative AI offers a shot to bring back some novelty and compel consumers to upgrade their devices, said Tom Kang, a Seoul-based research director at Counterpoint.

Few smartphones command the global demand—and top dollar—of Samsung’s Galaxy S24 devices. Samsung is expected to account for half of the roughly 100 million smartphones equipped with generative AI capabilities to be shipped this year, with Google’s Pixel and major Chinese brands including Xiaomi and Vivo also contributing, according to Counterpoint.

But unlike Samsung, Chinese smartphone brands mainly serve their domestic market, with virtually no presence in the U.S. and some sales in Western Europe and India for their high-end models, Counterpoint said…Read more

Apple Goes on the Offensive as iPhone Sales Slip in Its Biggest Overseas Market

In the last quarter of 2023, iPhone sales in China fell 11% compared with the same period a year earlier, according to market-research firm Counterpoint. Ethan Qi, a Counterpoint analyst, linked the downturn to waning demand for smartphones in China and intensified competition from local rivals. In particular, Huawei is swiftly gaining ground despite grappling with U.S. sanctions.

In recent years, the premium segment has emerged as the main growth driver in an otherwise-sluggish global smartphone market. The segment accounts for just under a quarter of smartphone sales globally but 60% of revenue, according to Counterpoint…Read more

Apple offers a rare $70 discount on the iPhone 15 in China as competitors from Huawei and Honor eat into its market share

Apple is facing stiff competition from Chinese competitors. The iPhone 15 underperformed in its first 17 days of sale compared to the iPhone 14, according to data from Counterpoint Research.

“Apple’s share is being challenged primarily by Huawei at the premium end of the market but also across the mid-high range in recent months from other Chinese competitors,” says Ivan Lam, a senior analyst at Counterpoint Research…Read more

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