HMD Global has regained its No. 1 position and dominates the feature phone market as per the IDC Q3’23 report
HMD Global, the home of Nokia phones, has emerged as the undisputed leader in the feature phone market, securing the top position in market share by value and securing the second position by volume, according to the latest IDC Q3’23 report, yet again.
As per the IDC report, HMD Global commands an impressive 30.7% market share by value, a significant increase of 4.2% over Q2 FY23. In terms of volume, the brand holds a commendable 22.4% market share, marking a notable growth of 2.3% compared to the previous quarter.
Several strategic initiatives and implementations have contributed to HMD’s remarkable performance in the feature phone market. Some key factors include:
1. UPI Integration in Feature Phones: HMD has been at the forefront of innovation by integrating UPI (Unified Payments Interface) in Nokia feature phones. This move has not only enhanced the utility of feature phones but has also opened up new avenues for users to engage in secure and convenient digital transactions.
2. Refresh of Hero Models: successful refresh of its hero models with a new design identity, vibrant colors, and most importantly, a larger battery capacity. These enhancements not only align with consumer preferences but also ensure an extended and reliable user experience. A few hero models that were re-introduced with better specs are Nokia 105 2022, Nokia 110, Nokia 110 4G, Nokia 225 4G, Nokia Xpress Music, Nokia 5710 Xpress Audio with TWS and Nokia 2660 Flip.
3. User-Friendly Features and Experience: HMD has prioritized user-centric design and features, making their feature phones more accessible and enjoyable for a diverse user base. The focus on creating a user-friendly experience has resonated well with consumers, contributing to the brand’s market dominance.
4. Robust Offline & Online Presence: HMD’s wide presence across Offline and Online stores has played a pivotal role in ensuring the widespread availability and visibility of its feature phones. This comprehensive approach has strengthened HMD’s market presence and facilitated increased consumer access to Nokia Feature phones
HMD remains dedicated to delivering high-quality, reliable, and innovative mobile solutions to meet the evolving needs of consumers. The brand looks forward to building on this success and continuing to lead the feature phone market.
