Counterpoint: smartphone market in India is shifting towards more premium models

Peter, 09 May 2024

The smartphone market in India is booming – Counterpoint reports consumers are shifting towards more premium models as consumers look for phones that can game, run AI and capture higher quality images. Affordable financing schemes and trade-in offers are also driving the move to pricier tiers.

The premium smartphone segment (>₹30,000) has reached its highest-ever share by volume at 20%. Looking at the share by value, this segment accounts for 51% – that is to say that more than half the money spend on smartphones in India are spend on a premium device.

5G adoption continues to climb and the shipments of 5G handsets has reached a new height of 71%. This, of course, is related to the growth of the premium segment.

Counterpoint: smartphone market in India is shifting towards more premium models

Looking at individual brands, vivo claimed the #1 spot for the first time in its history – this is by volume of phones shipped for the quarter. Cutting edge 5G tech and impressive cameras are what propelled vivo to the top.

However, looking at share by value, Samsung continues to lead the market. The average selling price (ASP) for a Galaxy phone is higher than ever at around $425. This is due to strong sales of the Galaxy S24 series (with generative AI singled out as a selling point), the improved Galaxy A-series is doing very well too.

Apple has something to celebrate too, a record-setting quarter in the premium segment thanks to strong sales of the iPhone 15 series, especially through offline stores. Apple leads the premium segment in terms of both value and volume.

Counterpoint: smartphone market in India is shifting towards more premium models

A few other worthy mentions – Nothing was the fastest-growing brand with a 144% increase over last year (the Nothing Phone (2a) is a hit), Motorola’s shipments are up 58% year on year (analysts highlight Moto’s material choices and Android UI), Xiaomi shipments are up 28% year on year (enough to secure second place by volume).

Also, MediaTek remains the dominant chipset supplier for phones sold in India with a 53% share, though Qualcomm stands out in the premium segment with a 35% share.



Reader comments

Oh please, do enjoy your slowdowns with every update (planned obsolescence) and RGB lines on the screen tho

Its share is not mentioned as it was not in Top-5 in terms of volume. But we can make an educated guess. In 2023, Apple had 23% revenue share with 6.5% volume share. In 2022, Apple had 17% revenue share with ~4.7% volume share. So in 2024...

  • Anonymous
  • 10 May 2024
  • Ib5

In that case enjoy your joke software. Only Samsung gives serious support and many updates.

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