Samsung set to reclaim top spot in India's smartphone market

  • Stock Market News
Samsung set to reclaim top spot in India's smartphone market
Credit: © Reuters.

Samsung Electronics (KS: 005930 ) is on the brink of reclaiming its title as the leading smartphone vendor in India, a position it has not held since 2018. Counterpoint Research has predicted that Samsung's market share will hit 18%, allowing it to overtake Xiaomi (OTC: XIACF ), which is expected to see its share shrink to 15%. This anticipated shift in market dominance comes after Samsung consistently led in quarterly shipments throughout the past year.

Samsung's resurgence can be attributed to its broad portfolio of products, catering to both mass-market and premium segments with its Galaxy A, S, Z, F, and M series. The company has adeptly leveraged different sales platforms to reach consumers, including offline channels for the Galaxy A series, Flipkart for the Galaxy F series, and Amazon (NASDAQ: AMZN ) for the Galaxy M series.

The South Korean tech giant's previous six-year reign as India’s top smartphone vendor underscores its longstanding influence in the region. Meanwhile, Vivo is also expected to surpass Xiaomi with a market share of 17%, intensifying the competition among leading smartphone brands.

The shift in market dynamics has been influenced by geopolitical tensions and regulatory actions taken by Indian authorities against Chinese companies. These measures stem from a border conflict in 2020 that led to increased scrutiny of Chinese investments and operations in India. In one high-profile case from April this year, Xiaomi faced legal challenges after a High Court ruling supported the seizure of $676 million from the company for alleged illegal transactions mischaracterized as royalty payments. Xiaomi continues to contest these allegations.

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