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. The IDC report indicates that HMD Global has a significant increase of 4.2% in its market share, reaching 30.7% by value. 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.
Nokia’s performance in the feature phone market is attributed to strategic initiatives such as UPI integration, a refresh of hero models, user-centric design, and a robust offline and online presence. These initiatives have enhanced the utility of feature phones and opened up new digital transactions. The company’s focus on user-centric design and experience has resonated with consumers, contributing to its market dominance. HMD’s wide presence across offline and online stores has further strengthened its market presence.
HMD is committed to providing high-quality, reliable, and innovative mobile solutions to meet consumer needs, aiming to continue leading the feature phone market.