New Delhi: According to a report released on Tuesday, India’s market share for 5G smartphones climbed to 77% in the second quarter (Q2), up from 49% in the same period last year. The average selling price decreased by 22% to $293 (about Rs 24,000). Around 27 million 5G devices were shipped in the April- June quarter.
The Indian smartphone market, as per the International Data Corporation (IDC), saw a significant growth in shipments. In the first half of 2024, 69 million smartphones were shipped, marking a 7.2 percent year-over-year growth. In Q2, the market shipped 35 million smartphones, with a 3.2 percent growth year over year.
Even though shipments have increased year over year for the fourth quarter in a row, the findings stated that slowing consumer demand and rising average selling prices (ASPs) are still impeding a quick annual recovery.
Also read – New algorithm uses tongue analysis to predict diabetes stroke with 98 percent accuracy
“Apart from old inventory clearance in the first half of the quarter, vendors also started to launch new smartphones, especially in the mid-premium/premium segment (mostly China-based vendors) from mid-quarter onwards, for monsoon sales in July and August,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC India. Notably, Xiaomi, Realme, and Vivo emerged as the dominant forces in this segment, further solidifying their market influence.
The entry-level (sub-$100) segment witnessed a notable decline of 36 percent YoY to 14 percent share, down from 22 percent a year ago. This shift in market dynamics, with Xiaomi leading this space, followed by Poco and Realm, is a clear indicator of the changing consumer preferences.
Shipments to the mass budget (above $100 and below $200) segment grew by 8 percent year over year. The top three brands were Xiaomi, Realme, and Vivo, making up 60 percent of this segment.
According to the report, the premium segment held a 2 percent share and declined by 37 percent in unit terms. Key models were the iPhone 13, Galaxy S23FE, iPhone 12, and OnePlus12. Apple’s share increased YoY to 61 percent, while Samsung’s share increased to 24 percent from 21 percent a year ago.
In Q2, shipments to online channels grew by 8 percent year over year, a significant growth that underscores the promising future of online sales. Their share increased to 50 percent, compared to 47 percent in Q2 2023, indicating a shift towards digital platforms in the smartphone market.
For more updates Subscribe to Media Eye News
–IANS
