The Indian smartphone market shipped 69 million smartphones in the first half of 2024 (1H24), with 7.2 per cent growth year-over-year, a new report has said.
In the second quarter (Q2) of 2024, the market shipped 35 million smartphones, with growth of 3.2 per cent year-over-year, according to International Data Corporation (IDC).
“The latter half of the second quarter is a prelude to the crucial second half of the year with festive sale period going up till November. Apart from old inventory clearance in the first half of the quarter, vendors also started to launch new smartphones, especially in the mid-premium/premium segment (mostly China-based vendors) from mid-quarter onwards, for monsoon sales in July and August,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC India.
Moreover, the report mentioned that the country’s 5G smartphone market share increased to 77 per cent in Q2, while the average selling price (ASP) declined by 22 per cent to $293.
The smartphone shipments to the mass budget ($100<$200) segment grew by 8 per cent year-over-year, with a marginal increase in share to 44 per cent from 42 per cent. The top 3 brands were Xiaomi, realme and vivo, making up 60 per cent of this segment.
The share of entry-premium ($200<$400) segment reached 30 per cent, up from 22 per cent and registered highest growth of 42 per cent year-over-year.
The super-premium segment (over $800) momentum continued with 22 per cent growth and its share up from 6 per cent to 7 per cent. The iPhone15/15 Plus/14/14 Plus together accounted for 77 per cent of shipments, followed by the Galaxy S24/S24 Ultra with an 11 per cent share, according to the report.
“The premiumisation trend in the smartphone market, led by Apple and Samsung, coupled with rising device costs is motivating China-based brands to expand beyond the mass segment. The entry-premium segment ($200<$400) is expected to see healthy growth, while the entry-level (sub-$100) will remain challenged at least this year despite efforts around launching affordable 5G smartphones,” said Navkendar Singh, Associate Vice President, Devices Research, IDC.
“Also, the marketing around GenAI smartphones will be more pronounced, amid heavy promotional activities around it,” he added.
Overall, vivo continued to lead for the second consecutive quarter, with multiple launches across price segments through the Y series, mid-premium V series and flagship X Fold 3 Pro, the report showed.