The first week of festive sales in India has seen iPhone sales surge past 1.5 million units. This marks over 25 per cent year-on-year (YoY) growth, as disclosed in a recent report.
The data, released by Counterpoint Research, revealed a thriving smartphone market in India during the festive season. The surge in sales was primarily driven by robust demand for devices from tech giants like Samsung, Apple and Xiaomi.
Online channels, which had witnessed sluggish demand throughout the year, experienced an unexpected surge in consumer interest during the festive sales week. To keep up with the rising demand, online retailers like Amazon and Flipkart found themselves compelled to raise prices from the third day of the sales week.
One of the noteworthy trends during this festive sales period was the prevalence of 5G-capable smartphones. Approximately 80 per cent of phones sold within the first 48 hours on Amazon and Flipkart boasted 5G capabilities, highlighting the Indian market’s growing appetite for advanced connectivity.
The premium smartphone segment also witnessed substantial growth. On Flipkart, this segment saw a nearly 50 per cent YoY boost, driven predominantly by the newly released iPhone 14 and the Samsung Galaxy S21 FE. Meanwhile, on Amazon, the segment experienced a staggering 200 per cent increase, mainly fueled by the iPhone 13 and the Galaxy S23 FE.
The demand for iPhones, in particular, was noticeably strong this year, with the iPhone 14, iPhone 13, and iPhone 12 all garnering substantial interest. This contrasts with the previous year, when the iPhone 13 reigned as the primary driver of Apple’s sales in India.
The Samsung Galaxy S21 FE also made waves in the Indian market, selling out on Flipkart within just two days of the festive sales event. Furthermore, the affordable 5G smartphone segment, priced between Rs 10,000 and Rs 15,000, saw a surge in upgrades, as several original equipment manufacturers (OEMs) introduced new 5G devices ahead of the festive season.
Among the top-selling smartphones on Amazon were the realme Narzo 60x 5G, Galaxy M14 5G, and M34 5G, while on Flipkart, the vivo T2x emerged as the bestseller. Analysts credit the robust consumer demand for premium devices to the availability of various financing and credit schemes, including per-day equated monthly installments (EMIs).
This buoyant consumer sentiment is expected to carry over to offline sales as well, given the parity between offline and online discounts. The future looks promising for the Indian smartphone market, with the festive season expected to yield a 7 per cent year-on-year growth in sales volumes and an impressive 15 per cent YoY growth in the average selling price (ASP), according to the report’s forecasts. India’s smartphone landscape continues to evolve, and the festive season of 2023 is shaping up to be one for the record books.
