India smartphone market shipments grow ‘nominally’ to 146 mn units in 2023: IDC

NEW DELHI: The India smartphone market recorded a nominal growth of 1% year-over-year in shipments, reaching 146 million units at the end of 2023, according to the latest report released by the International Data Corporation (IDC) on Tuesday.

The research firm said that the second half of the year grew by 11% annually, compensating for the sharp 10% decline in the first half. The December quarter saw a 26% year-over-year rise in shipments to 37 million units, IDC said.

“Consumer demand remained stressed, leading to excess inventory levels across channels despite price corrections and schemes by the vendors,” IDC said, adding that the market may see a flat to low single digit annual growth in 2024.