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

New Delhi[India], May 14 (ANI): 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&lt;USD 200) segment grew three times to reach 46 per cent share. Xiaomi's Redmi 13C, vivo's T2x, Samsung's Galaxy A15, vivo's Y28 and Apple's iPhone14, were the highest shipped 5G models in 1Q24.
"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&lt;USD 800) held a 2 per cent share and declined by 21 per cent in unit terms. Key models were the iPhone 13, Galaxy S23FE/S23, iPhone 12 and OnePlus12. Apple's share declined YoY to 45 per cent, while Samsung was a close second with a 44 per cent share, up from 16 per cent a year ago.
The mid-premium segment (USD 400&lt;USD 600) segment declined by 46per cent in unit terms to a 3 per cent share, down from 6 per cent a year ago. OnePlus led with a 38 per cent share, followed by vivo and OPPO.
The share of entry-premium (USD 200&lt;USD 400) segment reached 23 per cent, up from 20 per cent growing by 25 per cent YoY. OPPO and realme gained a significant share, making up almost 30% of this segment.
Shipments to the mass budget (USD 100&lt;USD 200) segment grew by 22 per cent YoY, reaching 48 per cent from 44 per cent a year ago. The top 3 brands were vivo, Xiaomi and Samsung, making up 53 per cent share in this segment
"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. (ANI)