India's Smartphone Market Sees 3% Growth; Samsung, Apple Lead
Smartphone sales in India grew 3 per cent year-on-year in the third quarter of 2024. According to a report on Wednesday, Samsung leads the market in terms of price with 23 percent share, while Apple is second with 22 percent share. According to the latest research by Counterpoint's Monthly India Smartphone Tracker, the value of the Indian smartphone market has reached an all-time record with 12 percent (on-year) growth in a quarter. 5G smartphones achieved their highest ever share of 81 percent in total shipments.
Market Getting Lucrative Offers and Trade-in Support
Senior Research Analyst Prachir Singh said, "The market is moving towards a sharp price increase, which is linked to the premium trend. The market is getting lucrative EMI offers and trade-in support. Samsung is prioritising its flagship Galaxy 'S' series and beefing up its value-driven portfolio. Samsung is also integrating Galaxy AI features in its mid-range and affordable premium models in the 'A' series, encouraging customers to upgrade to higher price segments. On the other hand, Apple is in second place after Samsung. The brand has expanded rapidly to smaller cities, leading to a price increase with more focus on the new iPhone.
Apple is Strengthening its Position
"The strong shipments of iPhone 15 and iPhone 16 ahead of the festive season have further improved Apple's performance. As consumers are increasing investment in premium smartphones, Apple is strengthening its position as the preferred choice for premium buyers in India on the strength of its image. Nothing was the fastest growing brand for the third consecutive quarter, registering a 510 per cent increase in shipments in the third quarter of 2024 and entering the top 10 for the first time.
800 Multi-Brand Outlets in More than 45 Cities
According to the report, Nothing has benefited from the expansion of the portfolio and collaboration with more than 800 multi-brand outlets in more than 45 cities.
The contribution of Rs 30,000 and above to the premium price band in the 'realme' portfolio 20increased to 6 per cent in Q3 2024, driven by the reintroduction of the GT series this year.
For all the news from the country and the world, subscribe to our YouTube channel 'PUNJAB KESARI' now. YOU CAN ALSO FOLLOW US ON FACEBOOK, INSTAGRAM , AND TWITTER .