India shipped 34 million smartphones in Q1 of 2024; 11.5 pc YoY growth

New Delhi[India], May 14 : India's smartphone market shipped 34 million smartphone units in the first quarter of 2024. It also registered a 11.5 per cent growth YoY (year-over-year), making it the third consecutive quarter of growth in shipments, as per the Worldwide Quarterly Mobile Phone Tracker by International Data Corporation.

However, the share entry level segment in all smartphones of upto USD 100 declined to 15 per cent, down from 20 per cent a year ago. Xiaomi continued to lead this space, followed by Poco (2nd) and itel (3rd).

The average selling price (ASP) of smartphone remained flat YoY and QoQ at USD 263, ending the streak of strong ASP rise for the last several quarters.

The share of Apple, with an ASP of USD 953, had a record first-quarter shipment, growing by 19 per cent YoY. Price discounts, special deals on e-Tailer platforms, and attractive financing options led to this consistent growth for Apple beyond the festive season. iPhone 14/15 made up 56 per cent of shipments for Apple.

The data highlights that 23 million 5G smartphones were shipped in the quarter. The share of 5G smartphone shipments increased to 69 per cent, up from 46 per cent in 1Q23, while 5G smartphone ASPs dropped to USD 337, a decline of 21 per cent YoY in 1Q24. Within 5G, shipments of the mass budget (USD 100

"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 a modest overall annual growth in the mid-single digits for 2024," said Navkendar Singh, Associate Vice President, Devices Research, IDC.

The super-premium segment (USD 800+) grew the highest with 44 per cent growth, with its share up from 7 per cent to 9 [per cent. The iPhone14/15/14 Plus/15 Plus together accounted for 64 per cent of shipments, followed by the Galaxy S24/S24 Ultra/S23/S24+ with 25 per cent share. Overall, Apple led the segment with a share of 69 per cent, followed by Samsung at 31 per cent.

According to the data, the premium segment (USD 600

The mid-premium segment (USD 400

The share of entry-premium (USD 200

Shipments to the mass budget (USD 100

"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. eTailers organized several sales events and offered discounts on models nearing their end-of-life (EOL), resulting in increased demand and lean inventory," said Upasana Joshi, Senior Research Manager, Client Devices, IDC India.

The data points out that overall, vivo emerged as the top brand, replacing Samsung, as it continued to build its portfolio across price segments/channels and support offline partners. Amongst the top 10 brands, Motorola registered the highest growth, led by affordable launches; Samsung - despite the new lineup - witnessed declining shipments.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor