Highlights
- Vivo surpasses Samsung to lead the Indian smartphone market with 16.2% share.
- Apple sees 19% YoY growth in shipments due to strategic discounts and financing options.
- 5G smartphones make up 67% of total shipments, with mass budget segment leading growth.
- Average selling price of smartphones remains stable at $263 for the first time in several quarters.
The latest report from the International Data Corporation (IDC) has revealed some fascinating insights into the Indian smartphone market for the first quarter of 2024.
Let’s delve into the key highlights and trends that are shaping the industry.
Vivo Takes the Lead
In a surprising turn of events, Vivo has dethroned Samsung to claim the top spot in the Indian smartphone market share.
With a 16.2% share, Vivo edged past Samsung’s 15.6%, thanks to its consistent launches across various price points and attractive deals for offline retailers.
Apple had a remarkable quarter, with its shipments growing by an impressive 19% year-on-year.
This surge can be attributed to the company’s strategic price discounts and attractive financing options, which resonated well with customers even during the non-festive season.
5G Smartphone Dominance
The report highlights the growing dominance of 5G smartphones in the Indian market.
Out of the 34 million smartphones shipped in the first quarter, a whopping 23 million were 5G-enabled devices.
Notably, the mass budget segment between $100 to $200 (approx. Rs 8,300 to Rs 16,600) witnessed a threefold increase in 5G smartphone shipments, reaching a 46% share.
Emerging Trends
- Price Stability: For the first time in several quarters, the average selling price (ASP) of smartphones remained unchanged at $263 (approx. Rs 22,000).
- Top 5G Models: Some of the highest-shipped 5G smartphones included the Redmi 13C, Vivo T2x, Samsung Galaxy A15, Vivo Y28, and Apple iPhone 14.
- Brand Shake-Up: While Vivo and Apple experienced significant growth, brands like OnePlus and Tecno witnessed a decline in their market share.
Affordable 5G Drives Growth
The surge in 5G smartphone shipments, particularly in the mass budget segment, highlights the increasing accessibility of this technology.
As 5G networks continue to expand across the country, consumers are actively seeking affordable devices that can take advantage of the faster speeds and improved connectivity.
Competitive Landscape
The smartphone market in India remains highly competitive, with various brands vying for consumer attention.
While Vivo and Apple have gained ground, established players like Samsung and Xiaomi are likely to respond with new strategies and product launches.
This fierce competition ultimately benefits consumers, who can expect a wider range of choices and more aggressive pricing.
FAQs
Which brand led the Indian smartphone market in Q1 2024?
Vivo led the Indian smartphone market in Q1 2024 with a 16.2% market share, surpassing Samsung’s 15.6%.
How did Apple perform in the Indian smartphone market during Q1 2024?
Apple saw a 19% year-on-year growth in shipments, attributed to strategic price discounts and attractive financing options.
What percentage of smartphones shipped in Q1 2024 were 5G-enabled?
Out of the 34 million smartphones shipped, 23 million, or approximately 67%, were 5G-enabled devices.
What was the average selling price (ASP) of smartphones in Q1 2024?
The average selling price of smartphones remained stable at $263 (approx. Rs 22,000).
Which 5G smartphones were the top sellers in Q1 2024?
Some of the highest-shipped 5G smartphones included the Redmi 13C, Vivo T2x, Samsung Galaxy A15, Vivo Y28, and Apple iPhone 14.
Which brands saw a decline in market share in Q1 2024?
Brands like OnePlus and Tecno witnessed a decline in their market share during Q1 2024.
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