The Indian smartphone market shipped 34 million smartphones, representing a year-on-year growth of 11.5%, according to International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker.

This growth trend has been maintained for three consecutive quarters. In the fourth quarter of 2023, shipments saw a year-over-year increase of 25%.

New Releases and Promotional Activities

The quarter saw numerous launches across various price ranges as well as ramping up promotions, especially for premium offerings. Brands focused on microfinance schemes to improve accessibility.

eTailers organized sales events, offering discounts on end-of-life models, driving demand and reducing inventory, according to Upasana Joshi, senior research manager at IDC India.

Highlights of 1Q24

Smartphone average selling prices (ASP) remained unchanged year-over-year and quarter-over-quarter at US$263, ending a trend of steady ASP growth over several quarters.

Analysis by segments

Entry-level segment (under US$100)

  • It decreased by 14% year-on-year, reaching a market share of 15%, compared to 20% a year ago.
  • Xiaomi led this segment, followed by POCO and itel.

Mass Budget Segment (US$100 < US$200)

  • It saw year-on-year growth of 22%, reaching a market share of 48%, compared to 44% a year ago.
  • The three main brands were vivo, Xiaomi and Samsung, which collectively own 53% of this segment.

Premium entry segment (US$200

  • It expanded to a 23% market share, growing 25% year-on-year.
  • OPPO and realme have gained significant shares, accounting for almost 30% of this segment.

Premium Mid-Segment ($400 <$600)

  • It experienced a 46% decline in unit terms, representing a 3% market share, down from 6% a year ago.
  • OnePlus led this segment with a share of 38%, followed by vivo and OPPO.
See also  OnePlus Nord 4 with sleek 7.99mm metal body, Nord Buds 3 Pro with 49dB ANC and more OnePlus Pad 2 and Watch 2R details confirmed

Premium Segment (600 USD <800 USD)

  • It maintained a 2% market share and witnessed a 21% decline in unit terms.
  • The flagship models included the iPhone 13, Galaxy S23FE/S23, iPhone 12 and OnePlus12.
  • Apple's share declined year-on-year to 45%, while Samsung increased its share to 44%, up from 16% a year ago.

Super-Premium Segment (+800 USD)

  • registered the highest growth with 44%, increasing its share from 7% to 9%.
  • The iPhone14/15/14 Plus/15 Plus dominated this segment with a 64% share, followed by the Galaxy S24/S24 Ultra/S23/S24+ with a 25% share.
  • Apple led the segment with a 69% share, followed by Samsung with 31%.

5G smartphone trends

Of the total shipments, 23 million were 5G smartphones, making up 69% of the market. This reflects a significant increase from 46% in 1Q23.

  • The average selling price (ASP) of 5G smartphones declined 21% year-on-year to US$337 in 1Q24.
  • Within the 5G category, the mass budget segment ($100 < 200 USD) saw three-fold growth, achieving a market share of 46%.
  • The main 5G models shipped included Xiaomi's Redmi 13C, vivo's T2x, Samsung's Galaxy A15, vivo's Y28 and Apple's iPhone 14.
Online channel growth
  • Shipments through online channels grew by 16% year-on-year, making up 51% of total shipments in 1Q24.
  • POCO, vivo and Motorola experienced significant year-on-year growth, exceeding 65% in the online channel.
Brand performance
  • POCO showed a remarkable year-on-year growth of 72.2% in the first quarter of 2024, securing a market share of 5.9% and surpassing OnePlus in shipments.
  • vivo has emerged as the leading brand, surpassing Samsung, with a diverse product portfolio across price segments and distribution channels.
  • Motorola posted the highest growth among the top 10 brands, driven primarily by budget launches.
  • Apple saw 19% year-over-year growth in shipments, with iPhone 14/15 accounting for 56% of total shipments.
See also  motorola razr 50 ultra will be launched in india on 4th july
Perspectives and challenges

The smartphone market in India gained momentum in the first few months of the year. However, the second part will be decisive.

  • IDC predicts modest mid-single-digit annual growth by 2024.
  • Challenges remain in attracting first-time smartphone users and mitigating the impact of the second-hand market.

Market concentration among major brands is weakening, and smaller brands and sub-brands are gaining volume, said Navkendar Singh, associate vice president of Device Research at IDC.

Commenting on the brand's performance growth in the first quarter of 2024, Himanshu Tandon, Country Head, POCO India, said:

POCO's significant advance underlines our strong commitment to innovation and our thorough understanding of our consumers' requirements. Moving forward, our determination to maintain this momentum and set new standards in the industry is stronger than ever. This achievement is due to the immense support and love of our POCO community. We are optimistic about the potential that 2024 holds for us.


For the Latest Jobs And Information Visit: Mksjobs.Com

Aslo Read:

Mobile Updates:

Daily Update: