Samsung Dethrones Xiaomi In Q4 2022 To Claim Highest Smartphone Market Share In India: Counterpoint Research

SOUTH Korean Giant Samsung derailed Xiaomi's dominance in the smartphone market in the last quarter of 2022. Reuters reported that the company had a 20 per cent market share in Q4 2022 compared to the Chinese manufacturer's 18 per cent, citing Counterpoint Research data.

Cherry on the top is Samsung's 13 per cent share compared to under 1 per cent share of Xiaomi in the higher-end phones segment, states Counterpoint data. The Indian phone market is undergoing a 'premiumisation' trend while Xiaomi continues to focus on budget phones, Tarun Pathak, research director of Counterpoint, stated, according to the news platform.

In general, the market pie for sub-$120 (Rs. 10,000 approx.) smartphones dipped to 26 per cent from a hefty 41 per cent two years ago, the research firm adds. Plus, the share of smartphones above $360 (Rs. 30,000 approx.) witnessed a double leap to 11 per cent during the period.

Reuters researched the smartphone portfolio of both brands and discovered interesting findings. Xiaomi has 6 phones in the over $360 price bracket compared to Samsung's 16. Speaking of under $120, Samsung has just 7 models competing with Xiaomi's 39.

Introspecting the market shift, Xiaomi has started revamping its lineup to introduce competitors in around the 30 thousand rupees price bracket. Recent efforts include Redmi Note 12 series. In addition, the company has introduced the Xiaomi 13 Pro in the flagship lineup recently with an aim to expand its flagship figures.

"We have laid out a streamlined and cleaner portfolio with a focused approach to building expertise in the premium segment, and the launch of our latest flagship, Xiaomi 13 Pro, is a step in that direction," Muralikrishnan B., President of Xiaomi India, said.

It feels as if Xiaomi has learned from its past mistakes and is working to regain the spot from the South Korean Giant. Samsung last month introduced its S23 series. It was received well by users and the tech fraternity. Meanwhile, Reuters credits the user-friendly loan scheme to buy smartphones from Samsung as one of the significant steps to boost its sales.