India’s smartphone market witnessed a shipment of 34 million smartphones in the first quarter (Q1) this year (2024), with 11.5 per cent growth (year-over-year), where Apple recorded first-quarter shipment, which has grown by 19 per cent YoY.
A recent report from IDC surfaced on Tuesday, stating that the premium segment of smartphones will be held by 2 per cent share and declined by 21 per cent in unit terms.
Upasana Joshi, Senior Research Manager, Client Devices, IDC India said, “Several new launches across multiple price segments happened during the quarter, coupled with increased promotional activities, particularly around premium offerings. Brands continued their focus on microfinancing schemes to drive affordability.”
For Apple, price discounts, special add-on deals on e-tailer platforms and attractive financing options led to its consistent growth in India beyond the festive season.
iPhone 14 and iPhone 15 made up 56 per cent of shipments for the company in the country, where the company has doubled down on the local manufacturing.
Shipments to the mass budget segment have gone up by 22 per cent YoY, reaching 48 per cent from 44 per cent a year ago (2023).
The top three brands topping the chart were Xiaomi, Samsung and vivo, making up 53 per cent share in this segment, the report stated.
About 23 million 5G smartphones were shipped in the quarter and the share of 5G devices increased to 69 per cent, up from 46 per cent in the same quarter last year.
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Inputs from IANS
