Made in India Smartphone Shipments Fell by 8 Percent in Q3 2022: Counterpoint Research

Made-in-India smartphone shipments have reportedly declined by 8 percent in Q3 2022 compared to Q3 2021 to reach 52 million units. The fallen consumer demands and market uncertainties have impacted the shipments, according to a survey conducted by market research firm Counterpoint Research. While Oppo topped the Made in India smartphone shipments in Q3 with a 24 percent market share, Samsung and Vivo are in second and third spots, respectively.

According to the results of a survey published by market research firm Counterpoint Research, Made in India smartphone shipments have fallen by 8 percent year-on-year(YoY) between July and September 2022 to reach over 52 million units. This is the first decline this year, as per the report. A senior Research analyst at the firm has cited the poor consumer demand in the entry-level segment, and the high channel inventory at the start of the quarter as the two prime reasons for this decline.

The report also shared growth in the country's smartphone manufacturing ecosystem. It says that 63 percent of the Made in India shipments came from in-house manufacturers whereas the remaining 37 percent came from third-party EMS players. Chinese smartphone manufacturer Oppo has the highest market share of 24 percent in Made in India smartphone shipments in Q3, followed by Samsung and Vivo. However, BYD and Lava are said to be the fastest-growing manufacturers in terms of smartphone shipments.

The report also suggested that local smartphone manufacturing might witness an upward trajectory with more partnerships like Tata Group and Wistron, and Foxconn and Vedanta. Additionally, the Indian government is also aiming to expand the local value addition from the present 17-18 percent to 25 percent in the near future, added the report. Therefore, the manufacturing volumes might increase with a focus on the OEMs to export to other countries.

Earlier this month, research by Trendforce had found a decline in global smartphone production in Q3 2022. It said that the industry produced 289 million units from July to September which is a 0.9 percent quarterly decline from 307 million units in Q2. On a yearly basis, it is around an 11 percent decline.