HMD Global, known for Nokia phones, has secured the top spot in the feature phone market, leading in market share by value and ranking second by volume, according to the latest IDC Q3’23 report.
As per the IDC report, HMD Global holds a 30.7% market share by value, a notable increase from Q2 FY23. In terms of volume, the brand has a 22.4% market share, showing a significant growth.
Key factors contributing to HMD’s success include:
Feature Phones with UPI Integration: HMD innovatively integrated UPI (Unified Payments Interface) in Nokia feature phones, enhancing their functionality and enabling secure digital transactions.
Hero Models Refresh: Successful updates to hero models, featuring new design, vibrant colors, and larger battery capacity, aligning with consumer preferences for an extended and reliable user experience.
Notable models include Nokia 105 2022, Nokia 110, Nokia 110 4G, Nokia 225 4G, Nokia Xpress Music, Nokia 5710 Xpress Audio with TWS, and Nokia 2660 Flip.
User-Friendly Design: HMD prioritized user-centric design and features, ensuring accessibility and enjoyment for a diverse user base, contributing to the brand’s market dominance.
Offline & Online Presence: HMD’s extensive offline and online presence in stores has played a crucial role in ensuring widespread availability and visibility of its feature phones. This comprehensive approach has strengthened HMD’s market presence and increased consumer access to Nokia feature phones.
On the announcement, HMD Global said:
HMD remains committed to delivering top-notch, dependable, and inventive mobile solutions to address the changing demands of consumers. We are eager to build upon our achievements and persist in our leadership of the feature phone market.