According to business standard reports, India’s smartphone market witnessed a rise in the first quarter of the calendar year (CY) 2024. Smartphone shipments grew by 11.5% yearly and reached 34 million units. According to the Worldwide Quarterly Mobile Phone Tracker of (IDC) International Data Corporation, shipment growth is the third consecutive quarter.
IDC Vice President Navkendar Singh says, “The first few months of the year have provided momentum for the smartphone market in India. However, the second half of the year will be crucial. IDC estimates modest overall annual growth for 2024.”
Navkendar Singh said the reason behind this growth is the impact of the second-hand market. Smaller brands and sub-brands are gaining volume in the market. Navkendar Singh added that the share of the top five brands dropped to 65% from 69% a year ago. Vivo, Xiaomi, and Samsung were the top three brands, making up 53% of the share in this segment. For the Q1 of CY2024, Samsung saw a downfall in its market share of 15.6%.
Apple led the segment and accounted for 64% of shipments with its iPhone and 15 Plus, followed by the Galaxy S24/S24 Ultra/S23/S24+, which had a 25% share. This drove the growth in the smartphone market, as the super-premium segment ($800+) grew to its highest at 44%, with its share up from 7% to 9%. The entry premium segment ($200<$400) also grew and reached 23%.
Overall, Q1 proved to be beneficial for the Indian smartphone market. In this growth, Apple was the ruler in the premium segment. The entry premium segment also witnessed growth, where Oppo and Realme made a 30% share.
