Summary:

In the first half of 2024, India's smartphone market delivered 69 million units, representing a 7.2% YoY increase. The second quarter saw 35 million shipments, marking a 3.2% YoY rise. Despite this being the fourth consecutive quarter of growth, weak consumer demand and rising average selling prices (ASPs) are hindering a rapid recovery. Ms. Upasana Joshi of IDC noted that seasonal sales and new smartphone launches will drive demand in the latter half of Q2.

IDC reported a 2.8% YoY increase in smartphone ASPs, although there was a 5.6% QoQ drop to $248. The entry-premium segment ($200–$400) grew by 42% YoY, capturing 30% market share, driven by Apple and Samsung. The super-premium segment ($800+) expanded by 22% to a 7% share, with Apple leading at 83%. The mid-premium and premium segments fell by 25% and 37%, respectively. The mass budget category increased by 8% YoY, while 5G shipments totaled 27 million units, accounting for 77% of overall shipments. Shipments through online channels rose by 8% YoY, whereas offline shipments decreased by 2%.

Source: IBEF 

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