According to the International Data Corporation (IDC), the Indian smartphone market sold 69 million devices in the first half of 2024, representing a YoY (year-over-year) rise of 7.2%. 35 million smartphones were supplied in the second quarter, a 3.2% YoY increase in the market.
India 5G Smartphone Market Share Soars
According to a research released on Tuesday, the average selling price of 5G smartphones in India dropped by 22% to $293 (about Rs 24,000) in the second quarter (Q2), while the country’s market share climbed to 77% from 49% in the same period last year. In the April–June quarter, around 27 million 5G devices were shipped.
In the first half of 2024, the Indian smartphone market sold 69 million devices, with 7.2 YoY (year-over-year) increase percentage, as reported by the International Data Corporation (IDC). 35 million smartphones were supplied in the second quarter, a 3.2% YoY increase in the market.
Despite the fact that shipments have increased year over year for the fourth quarter in a row, the research stated that rapid annual recovery is still being hampered by weak consumer demand and rising average selling prices (ASPs).
IDC, India 5G Smartphone Market Share Soars
According to Upasana Joshi, Senior Research Manager, Devices Research, IDC India, vendors began launching new smartphones in the middle of the quarter, primarily in the mid-premium/premium segment (mostly China-based vendors), in addition to clearing out old inventory in the first half of the quarter in preparation for monsoon sales in July and August.
The entry-level (sub-$100) market had a sharp reduction, falling 36% YoY to 14% of the market, from 22%. one year prior. Xiaomi remained at the top of this market, with Poco and Realme following.
Shipments increased by 8% year over year to the mass budget (above $100 and below $200) segment. The top three brands, accounting for 60% of this market, were Vivo, Realme, and Xiaomi.
As per the research, the premium segment had a decrease of 37% in unit terms and held a 2% share. The iPhone 13, Galaxy S23FE, iPhone 12, and OnePlus 12 were the important models. Apple’s market share climbed year over year to 61%, while Samsung’s grew to 24% from 21% the previous year.
Shipments to online channels climbed by 8% YoY in Q2, and their proportion rose to 50% of total shipments percent in Q2 2023 as opposed to 47% in Q2 2023.
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