Synopsis
A recent report reveals that India's premium smartphone market has experienced a significant growth of 36%, with Apple entering the top five smartphone brands for the first time, capturing a notable market share. The affordable 5G segment has achieved an impressive 80% share, reflecting changing consumer preferences.Key Takeaways
- Apple secured a top five position in India’s smartphone market for the first time.
- Premium smartphone segment grew by 36% year-over-year.
- Affordable 5G segment recorded an 80% growth.
- Super-premium and uber-premium segments saw substantial increases.
- Consumer demand is shifting towards higher-end models.
New Delhi, Feb 4 (NationPress) The premium smartphone sector in India has maintained its robust double-digit growth trajectory throughout the previous year. For the first time, Apple clinched a position among the top five smartphone brands in India during Q4 2024, as reported on Tuesday.
Apple experienced a remarkable 72 percent year-over-year growth, achieving an 11 percent market share in Q4.
Likewise, the super-premium smartphone category and the uber-premium segment (priced over Rs 1,00,000) witnessed significant increases, rising by 10 percent and 25 percent, respectively, as indicated by the CyberMedia Research (CMR) report.
Apple’s market share in the super-premium segment (Rs 50,000–Rs 1,00,000) soared by 82 percent year-over-year, while the uber-premium segment (Rs 1,00,000) surged by 32 percent year-over-year.
Intensive marketing strategies, extensive festive discounts, and robust demand for both the latest and earlier iPhone models contributed to this market expansion, according to the report.
Menka Kumari, a senior analyst at the Industry Intelligence Group (IIG) of CMR, noted that in 2024, India's smartphone market reflects a diverse consumer landscape.
On one end, the premium segment continues to grow, indicating a shift towards high-performance lifestyle choices. Conversely, the segment priced below Rs 10,000 is showing signs of recovery, she stated.
Efforts in affordability and accessibility are inspiring consumer aspirations and propelling market growth across various price segments.
In 2024, the Indian smartphone market exhibited varied trends across segments. While the affordable segment saw a modest 1 percent year-over-year increase, the value-for-money segment faced a 7 percent decline, indicating a shift towards premium smartphones, as the findings revealed.
The sub-Rs 10,000 5G category experienced a remarkable 80 percent year-over-year growth in 2024, fueled by new product launches and an increasing demand for affordable, feature-rich smartphones.
