Samsung beats Xiaomi in India in Q4 2022. Samsung had 20% of the Indian smartphone market in Q4 2022, while Xiaomi had 18%. Experts attribute this to the country’s “premiumization” desire. Indians can afford more costly phones today.
Two years ago, India’s sub-$120 smartphone market accounted for 41% of sales; today, it’s 26%. The premium sector (above $360) grows two-fold by 11%. Samsung beat Xiaomi because Xiaomi makes budget phones while Samsung makes mid-range to high-end ones. In 2022, Samsung had 16 premium phones, and Xiaomi had 6.
Samsung beats Xiaomi in India in Q4 2022
Xiaomi’s affordable smartphones were 7 and 39, with most out of stock. Xiaomi may be failing to adjust to the aging Indian market. Xiaomi sells 1% of premium phones, whereas Samsung sells 13%. The authorities also froze $674 million of Xiaomi’s money for illicit payments to overseas organizations.
Summarize this because of China-India tensions. Samsung’s aggressive lending strategy is off. In 2022, the organization began giving no-strings-attached loans to new consumers. Smartphone loans generated $1 billion from individuals with poor credit ratings, no evidence of residence, or consistent income. When the Indian quality of living rises, observers expect Apple to gain, given the business only makes luxury handsets.