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    Xiaomi loses a lot of customers amid crackdown by ED

    Xiaomi loses a lot of customers amid crackdown by ED

    Xiaomi loses a lot of customers amid crackdown by ED
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    By CNBCTV18.com  IST (Updated)

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    Despite being on top of the Smartphone leaderboard in terms of market share in Q2 2022, Xiaomi saw a 23 percent decline in smartphone shipments. Samsung topped the chart in the value-for-money segment and Apple led the super-premium segment.

    Chinese mobile manufacturers continued to feature in the top five spots in the smartphone leaderboard despite ongoing probes by Indian tax, revenue and enforcement authorities. Consumer demand continued to remain robust for affordable smartphones from all Chinese brands, except Xiaomi.
    Though Xiaomi captured the top spot in the smartphone market during the second quarter of 2022, the firm's shipments declined 23 percent year-on-year (YoY), according to CyberMedia Research’s India Mobile Handset Market Review Report.
    The report said the decline was due to "tough competition". Its sub-brand Poco also recorded a 14 percent YoY decline. India's Enforcement Directorate claims the company made illegal payments to foreign entities under the guise of royalties violating the Foreign Exchange Management Act (FEMA).
    According to the report, Xiaomi (20 percent), Samsung (18 percent), and Realme (16 percent) captured the top three spots in smartphones, followed by Vivo (15 percent) and OPPO (10 percent).
    The report stated that Samsung’s focus on the value-for-money 5G smartphone segment, ranging from Rs 7,000 to Rs 24,999, enabled its market growth. It added that with the upcoming launch of its fourth-generation foldable phones, Samsung will aim to further its leadership in foldable form factor innovation.
    Apple topped the charts in the super-premium segment, i.e. the Rs 50,000 to Rs 1,00,000 range, with almost 80 percent of the market share. The iPhone 12 and iPhone 13 series contributed to most of the iPhone shipments during the quarter. During a post-earnings call, CEO Tim Cook said Apple nearly doubled revenue in India in the June quarter.
    Out of all the smartphones shipped in the quarter, one out of every three devices was 5G capable, the report shows. 5G smartphone shipments grew 163 percent YoY in the quarter under review.
    Menka Kumari, analyst- industry intelligence group, CMR, anticipates that as the second half of 2022 begins, smartphone brands would focus more on offering lucrative schemes, offers and discounts to clear out their piling inventory.
    Meanwhile, the overall feature phone segment declined for the second consecutive quarter, driven by rising inflationary trends. The 2G feature phone grew 4 percent YoY but the 4G feature phone segment declined 45 percent YoY.

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