According to a new analytical report this morning, the Indian smartphone market shipped 69 million smartphones in 1H24, with 7.2% growth YoY (year-over-year). In 2Q24, the market shipped 35 million smartphones, with growth of 3.2% YoY. Although it is the fourth consecutive quarter of YoY shipment growth, muted consumer demand and rising ASPs continue to restrict swift annual recovery.

A Few of the Key IDC Highlights for India's Q2-24 Smartphone Market

• The share of entry-premium (US$200<US$400) segment reached 30%, up from 22% and registered highest growth of 42% YoY. OPPO, vivo and Samsung gained a significant share compared to the previous quarter, making up almost 60% of this segment.

• The mid-premium segment (US$400<US$600) segment declined by 25% in unit terms to a 4% share, down from 5% a year ago. vivo the major gainer, led with a 25% share, followed by OnePlus and OPPO.

• The premium segment (US$600<US$800) held 2% share and declined by 37% in unit terms. Key models were the iPhone 13, Galaxy S23FE, iPhone 12 and OnePlus12. Apple’s share increased YoY to 61%, while Samsung’s share increased to 24%, from 21% a year ago.

• The super-premium segment (US$800+) momentum continued with 22% growth and its share up from 6% to 7%.

• The iPhone15/15 Plus/14/14 Plus together accounted for 77% of shipments, Overall, Apple led the segment with a share of 83%, followed by Samsung at 16%.

Navkendar Singh, Associate Vice President, Devices Research, IDC: "The premiumization trend in the smartphone market, led by Apple and Samsung, coupled with rising device costs is motivating China-based brands to expand beyond the mass segment. Also, the marketing around GenAI smartphones will be more pronounced, amid heavy promotional activities around it.