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Indian Smartphone Market Sees 11 Percent YoY Growth in Q1 2024: IDC

Indian Smartphone Market Sees 11 Percent YoY Growth in Q1 2024: IDC
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India smartphone shipments grew for the third consecutive quarter while the number of 5G capable smartphones also saw ample growth, according to a report by a market research firm. Vivo overtook Samsung as the top brand in Q1 2024, while Motorola’s newest affordable smartphones helped the company achieve the highest growth among smartphone brands in the same period. iPhone maker Apple grew 19 percent year on year (YoY) in Q1 2024, while Samsung saw its shipments decline, despite the introduction of new models.

The number of smartphones shipped in India crossed the 34 million mark in Q1 2024 as the market grew by 11 percent YoY, according to International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker.  The report attributes the growth to new smartphone launches, a rise in promotional activities, sale events, as well as microfinancing schemes.

In the first quarter of 2024, Chinese smartphone maker Vivo reportedly overtook Samsung for the top spot with new models in various price segments, while also selling its products via offline retail channels — it had a market share of 16.2 percent. The South Korean brand, on the other hand, saw its shipments decline 13.3 percent YoY. despite the launch of new models in the country, according to IDC.

Unlike any other smartphone brand in the top 10 list, Motorola reportedly saw its market share in Q1 2023 (2.4 percent) increase by 110 percent YoY to 4.6 percent in Q1 2024, on the back of affordable smartphones. The Lenovo-owned brand, along with Poco and Vivo accounted for 65 percent of the increase in smartphones shipped via online channels in Q1 2024.

Apple also saw its share of shipments in Q1 2024 rise by 19 percent YoY, with an average selling price of $953 (roughly Rs. 79,600) while the iPhone 15 and iPhone 14 comprised 56 percent of its shipments in India. The market research firm attributes the company’s record first quarter to discounts on its smartphones, e-commerce deals, and financing offers.

Brands Q1 2024 Market Share Q1 2023 Market Share Year on Year (YoY) Change
Vivo 15.4% 16.2% 17.2%
Samsung 20.1% 15.6% -13.3%
Xiaomi 12.6% 12.8% 13.3%
Oppo 11.6% 10.2% -1.8%
Realme 9.3% 9.8% 17.3%
Apple 6.8% 7.3% 19%
Poco 3.8% 5.9% 72.2%
OnePlus 6% 5.1% -5.4%
Motorola 2.4% 4.6% 110%
Tecno 3.4% 2.9% -5.7%
Others 8.6% 9.6% 25.5%
Total 100% 100% 11.5 %

Poco was behind brands like Apple, Realme, Xiaomi and Oppo, but the company had a higher market share than OnePlus, Motorola, and Tecno. In fact, Poco’s, market share in India grew by 72.2 percent YoY to 5.9 percent, according to IDC.

IDC’s report also highlights broader trends in the smartphone market alongside brand-related statistics. The average selling price of smartphones didn’t see an increase from $263 (roughly Rs. 22,000). Shipments in the mass budget segment rose by 22 percent YoY, while the entry level segment fell by 14 percent YoY.

On the other hand, the entry-premium and mid-premium segment increased and declined by 23 percent and 46 percent, respectively. The segment that saw the highest growth was the super-premium segment (44 percent YoY growth) while the premium segment saw its market share fall by 21 percent as per the report.

“The first few months of the year have provided momentum for the smartphone market in India. However, the second half of the year will be crucial. IDC estimates a modest overall annual growth in the mid-single digits for 2024,” IDC Associate Vice President (Devices Research) said in a prepared statement.

Earlier this month, a Counterpoint Research report revealed that the iPhone 15 Pro Max was the company’ best-selling smartphone in global markets in Q1 2024. As per the market research firm, four of the top five smartphones were recent iPhone models, while Apple and Samsung were the only two smartphone brands in the top 10 list of smartphones that were shipped globally in Q1 2024.

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