Despite several sectors facing an economic slowdown, the consumer electronics industry broke all records during the Diwali sales season. India saw a record shipment of 4.9 crore smartphones in the third quarter of 2019. Counterpoint Research revealed that a number of new launches, discounts, and various pre-Diwali sales channels drove the sale. With a 26 percent market share, Chinese handset maker Xiaomi continued to dominate the India smartphone market. Players such as Realme, Vivo, itel and OnePlus were the fastest growing smartphone brands shipping record volumes.
Apple made an entry into the top 10 smartphone brands due to price cuts on iPhone XR. The newly launched Apple iPhone 11 also helped push the company with strong demand. Apple is set for a bumper festive season sales and the iPhone 11 series has registered very strong demand. The smartphone industry has experienced 15 times growth this year with good performance from Samsung, OnePlus, Apple, Xiaomi and Vivo. The feature phone players such as itel, Lava and Karbonn registered positive annual growth despite the overall segment declined.
OnePlus and Xiaomi perform well in Smartphone segment
OnePlus said it gained a record Rs 1,500 crore in gross merchandise value (GMV) worth of sales across platforms. The company has also emerged as the best-selling premium brand in both smart TV and smartphone categories on Amazon. Xiaomi announced that it achieved a record-breaking sale of over 5 lakh Mi TVs in 24 days starting September 28. Xiaomi clarified that this milestone is achieved across Diwali With Mi on mi.com, Flipkart, Amazon, and all offline channels. Mi TV is the highest-selling TV on Amazon and Flipkart during the shopping festival.
During the same period, Mi TV was also the highest-selling TV across Amazon and Flipkart. “Our Smart TV business was born in 2018 and it has flourished well in India. In a short span of time of three months since inception, we became the #1 smart TV brand in India and have continued our streak for five consecutive quarters,” said Eshwar Nilakantan, Category Lead-MiTV, Xiaomi India. The numbers reported are impressive amidst the reported slowdown. This also hints that people are still interested in spending on consumer electronics.
With inputs from IANS.