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Counterpoint\u2019s<\/strong><\/a> Monthly India Smartphone Tracker reports a notable surge in India\u2019s smartphone shipments during Q1 2024. The market witnessed an impressive 8% year-on-year (YoY) growth in volume and an 18% YoY growth in value, indicating robust expansion and consumer demand in the smartphone segment.<\/p>\n \u00a0<\/p>\n Just published: India Smartphone Market Volume up 8% YoY, Value up 18% YoY in Q1 2024; vivo Leads in Volume, Samsung in Value <\/p>\n Key takeaways: <\/p>\n \u2013 @Vivo_India<\/a> led the market by volume for the first time ever. \u2014 Counterpoint (@CounterPointTR) May 9, 2024<\/a><\/p>\n\n \u00a0<\/p>\n \u00a0<\/p>\n Just published: US Smartphone Shipments Decline YoY for Sixth Consecutive Quarter<\/p>\n Key takeaways:<\/p>\n \u2013 US smartphone shipments declined 8% YoY in Q1 2024, the sixth consecutive quarter showing a YoY decline. \u2014 Counterpoint (@CounterPointTR) May 9, 2024<\/a><\/p>\n\n \u00a0<\/p>\n \u00a0<\/p>\n The volume growth can be attributed to healthy inventory levels and a favorable comparison to the low base of Q1 2023. On the other hand, the surge in value is fueled by the trend of premiumization, with the introduction of new flagship models like the Samsung<\/strong><\/a> Galaxy S24 and the OnePlus<\/strong><\/a> 12 series contributing significantly.<\/p>\n \u00a0<\/p>\n\n \u00a0<\/p>\n\n \u00a0<\/p>\n \u00a0<\/p>\n One of the key highlights is the expansion of the premium segment, comprising smartphones priced above INR 30,000. This segment reached its highest-ever volume share of 20%, contributing a substantial 51% to the total market value in Q1 2024.<\/p>\n \u00a0<\/p>\n Shilpi Jain<\/strong><\/a>, Senior Research Analyst at Counterpoint<\/strong><\/a>, notes that India\u2019s smartphone market achieved its highest-ever Q1 value during the quarter. This growth is propelled by consumers\u2019 inclination towards higher-value smartphones across different price tiers. Factors such as affordable financing, trade-in offers, bundled schemes, and the demand for advanced features like AI, gaming, and enhanced imaging have further fueled this trend.<\/p>\n \u00a0<\/p>\n In terms of market share, Samsung leads the pack with a one-fourth share of the market value. The brand\u2019s average selling price (ASP) hit a record high of around $425, driven by its strong presence in the >INR 20,000 segment. Apple<\/strong><\/a> also had a remarkable quarter, dominating both the value and volume aspects of the premium segment, mainly due to the latest iPhone<\/strong><\/a> 15 series.<\/p>\n \u00a0<\/p>\n Several brands experienced rapid growth during Q1 2024:<\/strong><\/p>\n \u00a0<\/p>\n Nothing<\/strong><\/a> witnessed an astounding 144% YoY growth, attributed to its mid-segment model Nothing (2a).<\/p>\n \u00a0<\/p>\n Motorola<\/strong><\/a> saw a 58% YoY increase in shipments, driven by demand for better CMF and stock Android<\/strong><\/a> experience.<\/p>\n \u00a0<\/p>\n Xiaomi<\/strong><\/a> secured the second spot with a 28% YoY growth, focusing on a streamlined portfolio and proactive offline strategies.<\/p>\n \u00a0<\/p>\n Transsion brands grew by 20% YoY, enhancing offline presence and offering premium features in the affordable segment.<\/p>\n \u00a0<\/p>\n Realme<\/strong><\/a> achieved an 18% YoY growth, capitalizing on its latest number series targeting young age groups with superior camera capabilities and premium design.<\/p>\n \u00a0<\/p>\n Counterpoint predicts single-digit growth for India\u2019s smartphone market in 2024, driven by factors like premiumization, 5G adoption, and post-COVID upgrades. In Q1 2024:<\/p>\n \u00a0<\/p>\n 5G smartphone shipments accounted for a record 71% share.<\/p>\n \u00a0<\/p>\n MediaTek<\/strong><\/a> led the chipset market with a 53% share, while Qualcomm<\/strong><\/a> dominated the premium segment with 35%.<\/p>\n \u00a0<\/p>\n Offline channels captured 64% of the market share, marking a significant post-COVID quarterly figure.<\/p>\n \u00a0<\/p>\n vivo emerged as the top brand by volume for the first time, capturing a 19% share driven by its 5G leadership and strong imaging capabilities.<\/p>\n \u00a0<\/p>\n Shubham Singh<\/strong><\/a>, Research Analyst, highlighted the promising start for OEMs in 2024, with improved inventory levels facilitating multiple new launches. However, sales fell short of expectations due to reduced retail footfalls and consumer spending. Key OEMs diversified their channel strategies, resulting in shipment growth in offline channels.<\/p>\n \u00a0<\/p>\n India\u2019s smartphone market continues to evolve dynamically, with premiumization, 5G integration, and post-pandemic upgrades shaping its trajectory. Counterpoint\u2019s comprehensive analysis provides valuable insights into market trends, brand performances, and emerging consumer preferences, guiding industry stakeholders and enthusiasts alike in navigating the dynamic landscape of the Indian smartphone ecosystem.<\/p>\n \u00a0<\/p>\n Source<\/strong> @ counterpointresearch<\/strong><\/a><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Follow Before You Take<\/span><\/a> on <\/span>Facebook<\/span><\/a> | <\/span>Twitter<\/span><\/a> | <\/span>WhatsApp Channel<\/span><\/a> | <\/span>Instagram<\/span><\/a> | <\/span>Telegram<\/span><\/a> | <\/span>Threads<\/span><\/a> | <\/span>LinkedIn<\/span><\/a>, For the <\/span>Latest Technology News & Updates<\/span><\/a> | <\/span>Latest Electric Vehicles News<\/a> | <\/span>Electronics News<\/a> | Mobiles News<\/a><\/p>\n The post Q1 2024 India Smartphone Market Report: Volume Surges 8%, Value Jumps 18%; vivo Tops Volume, Samsung Reigns in Value<\/a> appeared first on Before You Take<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" \u00a0 Counterpoint\u2019s Monthly India Smartphone Tracker reports a notable surge in India\u2019s smartphone shipments during Q1 2024. The market witnessed an impressive 8% year-on-year (YoY) growth in volume and an 18% YoY growth in value, indicating robust expansion and consumer demand in the Continue reading Q1 2024 India Smartphone Market Report: Volume Surges 8%, Value Jumps 18%; vivo Tops Volume, Samsung Reigns in Value<\/span>
\u2013 @SamsungIndia<\/a> led, capturing over one-fourth of the total market\u2026 pic.twitter.com\/fzChp137g3<\/a><\/p>\n
\u2013 @Samsung<\/a>\u2019s market share grew to 31%, its highest Q1 share since Q1 2020.\u2026 pic.twitter.com\/aYn1OH3POa<\/a><\/p>\nFactors Driving Growth<\/strong><\/h2>\n
Expansion of the Premium Segment<\/strong><\/h3>\n
Insights from Senior Research Analyst<\/strong><\/h2>\n
Brand Performances<\/strong><\/h2>\n
Fastest-Growing Brands<\/strong><\/h2>\n
Key Trends and Predictions<\/strong><\/h3>\n
Market Dynamics and Strategies<\/strong><\/h3>\n
Concluding Thoughts<\/strong><\/h2>\n