Indian Smartphone Market Q2 2024 Rise
According to an International Data Corporation (IDC) report, shipments of entry-level telephones (priced underneath Rs. 8,400) dropped 36 p.c YoY, capturing simply 14 p.c of the market share in Q2 2024, down from 22 p.c in Q2 2023. Xiaomi lead this phase and was adopted by Poco and Realme.
The mass funds phase (from roughly Rs. 8,400 to Rs. 16,800) grew by 8 p.c YoY, the place the highest three manufacturers — Xiaomi, Realme and Vivo, made up 60 p.c of the phase’s market share.
The entry-premium phase (roughly Rs. 16,800 to Rs. 33,500) noticed the best progress of 42 p.c YoY. Oppo, Vivo and Samsung made up 60 p.c of this phase’s market share.
However, the mid-premium phase (roughly Rs. 33,500 to Rs. 50,400) fell by 25 p.c YoY in Q2 2024 from a 5 p.c market share, right down to 4 p.c. In this phase, Vivo led with a 25 p.c market share, adopted by OnePlus and Oppo.
Shipments within the premium phase telephones (roughly Rs. 50,400 to Rs. 67,100) fell 37 p.c YoY in Q2 2024 capturing 2 p.c of the market share. Most fashionable handsets on this phase had been the iPhone 13, Samsung Galaxy S23 FE, iPhone 12, and OnePlus 12. However, Apple’s market share within the phase elevated 61 p.c YoY, and Samsung’s share grew from 21 p.c in Q2 2023 to 24 p.c in Q2 2024.
The super-premium phase (over roughly Rs. 67,100) continued to develop in Q2 2024 with a 22 p.c YoY rise in shipments and captured 7 p.c of the market share in Q2 2024 as in comparison with 6 p.c in Q2 2023. The report famous that on this phase, the iPhone 15, iPhone 15 Plus, iPhone 14 and iPhone 14 Plus collectively made up 77 p.c of shipments, giving Apple an 83 p.c market share. The Samsung Galaxy S24 and Galaxy S24 Ultra, however, made up 11 p.c of this phase’s cargo and contributed to 16 p.c market share of Samsung.
As per the report, 5G smartphone shipments elevated from 49 p.c in Q2 2023 to 77 p.c in Q2 2024. Mass funds 5G smartphone shipments grew by 2.5x to 45 p.c of market share. Among essentially the most shipped funds 5G smartphones in Q2 2024 are Redmi 13C, Oppo F25 Pro, Realme 12x, Redmi 12, and Realme C65.
Indian smartphone shipments to on-line channels grew by 8 p.c YoY in H1 2024, the IDC report added. Vivo led the general smartphone shipments market within the nation with a 16.5 p.c share, adopted by Xiaomi and Samsung at 13.5 p.c and 12.9 p.c, respectively.
Indian Smartphone Market H2 2024 Outlook
Despite Q2 2024 being the fourth consecutive quarter of YoY smartphone cargo progress, the report claimed that “muted client demand” and rising common promoting costs (ASPs) “proceed to limit swift annual restoration.”
The entry-premium phase (roughly Rs. 16,800 to roughly Rs. 33,500) is predicted to “see wholesome progress”, in keeping with the report. Meanwhile the entry-level (underneath roughly Rs. 8,400) will proceed to face challenges this yr regardless of inexpensive 5G smartphone launches. The report lastly famous that the advertising and marketing round generative AI (GenAI) smartphones will enhance and promotional actions will depend on this function within the upcoming quarters.
