premium smartphones Archives ~ Page 2 of 4 ~ My Mobile India

Highlights 71% of recent smartphone shipments in India were 5G-enabled. Apple and Samsung dominate as premium smartphone leaders. Average selling price of Samsung Galaxy phones rises to $425. OnePlus sees a decline in popularity as pricing increases. A recent report by Counterpoint indicates that Indian consumers are shifting towards buying more premium and expensive models of smartphones. It would appear that people are on the lookout for heavy-end devices that will be able to handle gaming, high performance and capture quality pictures with greater quality. Commenting on the market dynamics, Research Analyst Shubham Singh said, “The onset of 2024 brought a promising start for OEMs, with better inventory levels allowing them to fill channels with multiple new launches. However, sales were less than expected due to a drop in retail footfalls and a section of consumers cutting down on discretionary spending. During the quarter, vivo captured the top spot by volume for the first time ever, with a 19% share driven by its 5G leadership and CMF (Color, Material, Finish) positioning, along with strong imaging capabilities. Key OEMs focused on diversifying their channel strategies during the quarter, which led to growth in shipments in offline channels, with inventory building up by the end of the quarter.” Commenting on the market value dynamics, Senior Research Analyst Shilpi Jain said, “During the quarter, India’s smartphone market reached its highest ever Q1 value. The growth was driven by the strengthening trend of premiumization, with consumers upgrading to higher-value smartphones across price tiers. According to Counterpoint’s Consumer Lens survey, more than one-third of mid-tier consumers are willing to upgrade to the premium segment. Factors driving this trend include affordable financing schemes, better value for trade-ins, and bundled schemes, along with the demand for top-tier features such as AI, gaming, and imaging enhancements. With a one-fourth share, Samsung led the market in terms of value. Also, at ~$425, Samsung’s ASP was its highest ever, driven by its leading position in the >INR 20,000 segment. This can be attributed to a stronger mix of its newly launched Galaxy S24 series due to its features such as GenAI, and the newly revamped A series, along with the increasing popularity of Samsung’s financing schemes. Apple also had a record quarter in India in terms of value, leading the premium segment both in value and volume terms, driven by the latest iPhone 15 series, especially in offline channels.” Rise of Premium Smartphones Premium Smartphones Gain More Popularity in India for Q1 2024: Counterpoint The adaptation of 5G is also growing in the country. According to Counterpoint, 71% of shipments in the latest quarter were 5G-enabled. This also goes hand in hand with the rise in premium phones. Shilpi Jain, an analyst at Counterpoint, said "In the latest quarter, the Indian smartphone market reached its highest ever value for the first three months of the year.This growth was driven by more consumers upgrading to higher-priced, premium smartphones across all price segments." Apple and Samsung Lead the Way 71% of recent smartphone shipments in India were 5G-enabled According to data from Counterpoint, Apple had the second largest value share in the market at 19 percent although it is slightly down from the 22 percent it held just a year back. Another research firm, CyberMedia Research, estimated that the overall Indian smartphone market grew 10% over the same period last year. Market leader Samsung stayed at the top, according to both Counterpoint and CyberMedia Research. CyberMedia estimated Samsung shipped 4% more year-on-year and gave it a 19% volume share in the country. Apple and Samsung dominate as premium smartphone leaders The average selling price for a Samsung Galaxy phone is now around $425 as per the report or about Rs 35,000, which is higher than ever before. Strong sales of the Galaxy S24 series might have something to do with that as it highlighted generative AI as a key feature. Samsung's more affordable Galaxy A-series phones are also performing very well although the numbers are not disclosed. Surprisingly OnePlus is a noticeable absentee in the list. Apple became the second largest smartphone brand in the country It would seem that there is dwindling interest in the company that was once top of the charts as fast premium offerings are considered. It could likely stem from the ever increasing pricing on OnePlus’ top-end models and its diversification into a more budget segment with the Nord series. Among other brands, Vivo captured the top spot with a 19% share by volume. Nothing saw the fastest growth of 144% year-on-year, mainly driven by its mid-range Nothing 2(a) smartphone model. Xiaomi shipments grew 28% year-on-year. Transsion brands and Realme saw 20% and 18% annual growth, respectively, according to Counterpoint. FAQs What is driving the shift towards premium smartphones in India? The demand for premium smartphones in India is primarily driven by consumer desires for advanced features like gaming capabilities, AI applications, and high-quality cameras, alongside the rapid adoption of 5G technology. How significant is Apple's market share in the Indian smartphone market? According to recent data, Apple holds a 23% value market share and a 19% volume market share, making it the second-largest smartphone brand in India. What are the trends in smartphone pricing, particularly for Samsung? Samsung's Galaxy series has seen an increase in the average selling price to about $425, attributed to the popularity of its high-end Galaxy S24 series and strong performance of the Galaxy A-series. Why might OnePlus be experiencing a decline in the Indian market? OnePlus could be losing ground due to higher pricing on its premium models and a shift towards the budget segment with its Nord series, which may not resonate as well with consumers looking for high-end features. What are the socio-economic implications of the rising trend towards premium smartphones in India? The trend may result in an increasing digital divide as higher-end devices become more popular , potentially marginalizing consumers who cannot afford them. However, it might also indicate growing disposable income and consumer confidence. It could impact the ecosystem of mobile apps and services, too, with developers potentially focusing more on creating applications that leverage the capabilities of higher-end phones. What challenges does the Indian smartphone market face despite the growth? Challenges include sustaining the growth in a price-sensitive market, the potential saturation of the market, ensuring the availability of 5G infrastructure to support the high volume of 5G devices, the environmental impact of rapid tech turnover, and competition among manufacturers in both the premium and budget segments. Are Nothing, Motorola, Xiaomi fastest-growing brands ? Nothing grew the fastest at 144% YoY due to its new mid-segment model Nothing (2a), which gained significant mind share. Motorola’s shipments grew 58% YoY in Q1 2024 driven by demand for better CMF in smartphones and its smoother stock Android experience. Xiaomi’s shipments grew 28% YoY to secure the second spot driven by a leaner and streamlined portfolio and a proactive offline channel strategy. Transsion brands grew 20% YoY after increasing offline focus and offering premium specs in the affordable segment. realme witnessed an 18% YoY growth in Q1 2024 driven by its latest number series, which targets young age groups through its superior camera capabilities and premium-like design. Has India Smartphone Market Volume up 8% YoY, Value up 18% YoY in Q1 2024? Does vivo Lead in Volume, Samsung in Value ? For the first time ever, vivo led the market by volume in a single quarter. Samsung led the market by value after capturing over one-fourth of the total market value. Samsung’s average selling price (ASP) also reached its highest ever in India. The premium segment (>INR 30,000) reached 20% volume share, its highest ever, and 51% value share of the overall Indian smartphone market. 5G smartphone shipments captured their highest-ever share of 71% in volume terms. India’s smartphone shipments in Q1 2024 (January-March) grew 8% YoY in terms of volume and 18% in terms of value, according to the latest research from Counterpoint’s Monthly India Smartphone Tracker. Volume growth was primarily driven by healthy inventory levels and the low base of Q1 2023. Value growth was driven by the ongoing premiumization trend and new launches during the quarter, such as the Samsung Galaxy S24 and OnePlus 12 series. The premium segment (>INR 30,000) reached 20% volume share, its highest ever, and 51% value share of the overall Indian smartphone market in Q1 2024. It is expected that India’s smartphone market grows in single digits in 2024, driven by strong premiumization, 5G adoption and post-COVID upgrades. In Q1 2024, India’s 5G smartphone shipments captured their highest ever share of 71%. MediaTek led India’s smartphone chipset market with 53% share, Qualcomm leads the premium segment with 35% share. During Q1 2024, the offline share reached 64%, marking the highest quarterly post-COVID figure. Also Read: Apple is Boosting Spotlight Search with Generative AI Features Also Read: Apple Overtakes Samsung in Global and European Smartphone Markets in 2023

premium smartphones

Premium Smartphones Gain More Popularity in India for Q1 2024: Counterpoint

iPhone 15 Pro Max Reigns Supreme in Q1 2024 Smartphone Sales: Counterpoint

Vivo V30e vs Vivo V30: A Detailed Comparison Revealing Key Differences

MediaTek Reportedly Planning a Premium Smartphone Launch in US Market

Best Smartphones Across Price Ranges in India: March 2024

Vivo V30 Series Rumour Roundup: Expected Specs, Features, and Price