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Q1 2024 Witnesses Surge in Smartphone Shipments in India

Another report from International Data Corporation (IDC) said that 34 million smartphones were shipped to the Indian smartphone market in the first quarter of 2024 (1Q24), showing 11.5 percent year-on-year (YoY) growth IDC's Worldwide Quarterly Mobile Phone Tracker also said that the quarters are consecutive.

The main growth driver for the quarter was the super-premium segment ($800+), which posted the highest growth at 44 percent. Its market share increased from seven percent to 10 percent nine during this period.

Apple's iPhone 14/15/14 Plus and 15 Plus combined accounted for 64 percent of the market's smartphone shipments. In comparison, the Galaxy S24/S24 Ultra/S23/S24+ series accounted for 25 percent of Apple's share segment, up to 69 percent, and Samsung 31 got 100 percent.

"The smartphone market in India gained momentum in the first few months of the year. However, the second half of the year will be crucial. IDC forecasts modest year-on-year growth in the middle single digits by 2024," said Navkendra Singh, associate vice president of device research at IDC.

Vivo leads with the largest market share. Samsung's share is declining in terms of overall market share; the top three smartphone brands were Vivo, Xiaomi, and Samsung, with a combined market share of 53 percent or 16.2 percent, while Samsung shares fell to 15.6 percent in the first quarter of CY2024 from a rise of 20.1 percent in the same period of CY23.

"The quarter saw several new product launches across a broad range of price ranges, along with an increase in promotions, particularly for luxury offerings. To ensure affordability, manufacturing companies have continued to focus on microfinance programs. Auctioneers held multiple sales events and offered discounts on models approaching end-of-life (EOL), resulting in increased demand and thin inventories,” said Upasana Joshi, senior research manager of consumer products at IDC India. Both Realme and Oppo had a 30% share in the entry segment.

In addition to the super-premium segment, the entry-premium segment ($200<$400) accounted for a 23 percent share, up 25 percent year-on-year from 20 percent. Oppo and Realme both had the largest market share and nearly 30 percent in this sector.

Twenty-three million 5G smartphones were shipped in the third quarter. The share of 5G smartphone shipments in India increased to 69 percent, up from 46 percent in 1Q23, while the 5G smartphone ASP decreased to $337, a 21 percent YoY decline in 1Q24. In 5G, shipments in the national budget ($100<$200) segment grew three-fold to 46 percent.

In Q1 2024, Xiaomi’s Redmi 13C, Vivo’s T2x, Samsung’s Galaxy A15, Vivo’s Y28, and Apple’s iPhone 14 carried the most shipments of 5G models.

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