Counterpoint Research has made an analysis reporting the ‘Made in India’ smartphone shipment numbers for Q3 2022. According to the research firm, ‘Made in India’ smartphone shipments fell 8% year-on-year in the third quarter of 2022, reaching more than 52 million units. As expected, OPPO, which includes realme and OnePlus’ share, led the market with a 23.8% share.
The drop in shipments was primarily due to a drop in consumer demand, particularly in the entry-level segment, as a result of negative macroeconomic indicators such as the global recession. Furthermore, Counterpoint believes that the high channel inventory at the start of the quarter affected manufacturing during the quarter.
Coming back to the market leaders, OPPO is followed by Samsung with a 20.7% share in ‘Made in India’ smartphones. vivo ranks third with 12.4% of the market. Notably, BYD and Lava were the fastest-growing smartphone manufacturers in terms of shipments.
Nonetheless, this market is expected to grow as OEMs place a greater emphasis on exports to other countries. Furthermore, growth is imminent in the smartphones manufacturing sector, as multiple partnerships have been formed in recent months, such as those between Tata Group and Wistron and Foxconn and Vedanta.
Commenting on the matter, Prachir Singh, Senior Research Analyst, Counterpoint said,
The Made in India smartphone shipments declined in Q3 2022 as compared to Q3 2021. Two major forces impacted the growth of such smartphone shipments. First, the decline in consumer demand, especially in the entry-level segment, due to the negative macroeconomic indicators. Second, the high channel inventory at the start of the quarter also impacted the manufacturing during the quarter.
The country’s smartphone manufacturing ecosystem continues to grow with almost 63% of such shipments coming from in-house manufacturers and 37% from third-party EMS players. OPPO led the Made in India smartphone shipments in Q3 with a 24% share, followed by Samsung and vivo. BYD and Lava were the fastest-growing manufacturers in terms of smartphone shipments.