The Indian PC market (including laptops, notebooks, tablets, and desktops) recorded 3.9 million shipped units and crashed 35% year-on-year. Laptops and tablets declined 41% and 37%, respectively, per Canalys.
The market was affected by a short-term slowdown in demand, market saturation, and elevated inventory levels. Still, Q1 of 2023 is well above pre-pandemic levels.
HP retained its market-leading position, despite a 30.2% decline in shipments, compared to Q1 of 2022. Lenovo is once again second posting the largest loss margin of any maker year-over-year - 46.5%.
Taking a look at just tablets for a moment, Samsung is well in front of Apple and Lenovo, taking 32.6% of the market.
Canalys forecasts that the Indian PC market will rebound with 11% growth in 2024 and an expected 13% in 2025.
35% year on year crash and they expect it to magically rebound next year? Analysts really end these kind of reports with a positive spin.
Hope to see it improve as Indian economy is leading the growth projections in a very uncertain global recessionary environment