Chinese smartphone brands are seeing a rebound in volumes, but their cumulative revenue share is decreasing as iPhones and Samsung devices gain popularity in the premium segment. The market share of Chinese brands rose to 75% in the March quarter, bouncing back from a low of 61% in the July-September period. This growth is attributed to the shipment rebound by top brands such as Xiaomi and Vivo. However, their revenue share has fallen to 48% in Q1 CY24 from 70% in Q1 CY20, indicating the strengthening premiumisation trend.
Motorcycle and scooter sales in India are likely to regain their pre-pandemic peak in the next two years as strong premium-segment demand offsets the drag from weaker entry-level volumes, Diego Graffi, managing director of Italian automaker Piaggio, said. The domestic two-wheeler industry posted a year-on-year double-digit growth in 2022-23 after three consecutive years of decline. We also expect the ongoing festive season to drive great numbers for the industry. We believe the industry will regain pre-Covid volumes by 2025.
