The Indian smartphone market is continuing to grow at an impressive pace, largely fueled by the rise of 5G technology and AI advancements. According to a recent report by the International Data Corporation (IDC), the market is expected to see a 4% year-on-year growth in 2024, with total shipments reaching around 151 million units. Interestingly, the first half of the year saw a strong 7% growth, but the pace slowed down in the latter half, with growth tapering off to just 2%.
Breaking it down by segments, the premium smartphone category ($600-$800) saw a notable 34.9% growth, increasing its market share from 3% to 4%. The entry-premium segment ($200-$400) performed even better, growing by 35.3% YoY and now capturing a 28% share of the market. A lot of this growth was driven by the strong sales of popular models like the Samsung Galaxy S23/S24 and the iPhone 15, 13, and 14.
One of the key drivers behind this growth was the post-festive season discounts, extended warranties, and attractive financing options, such as No Cost EMIs for up to 24 months. These deals made premium and mid-range smartphones more accessible to a larger audience, which further fueled demand.
Apple, in particular, has made huge strides in India. The report showed that Apple sold a record 12 million units in 2024, marking a 35% increase in sales compared to the previous year. This success has pushed Apple into the top five smartphone brands in India for the first time, claiming a 10% market share. The iPhone 15 and iPhone 13 were among the top-selling models, showing just how popular Apple has become in the country. With this surge, India has now become Apple’s fourth-largest market, following the U.S., China, and Japan.
5G adoption has also been a key trend in 2024, with 120 million 5G smartphones shipped, making up 79% of all smartphone shipments. This is a significant jump from 55% in 2023. The budget-friendly 5G segment ($100-$200) saw massive growth, nearly doubling its shipments, and now holds a 47% share of the 5G market. Some of the most popular 5G models included the Xiaomi Redmi 13C, iPhone 15, Vivo Y28, and Vivo T3X.
In terms of sales channels, both offline and online sales grew by 4% YoY, with offline sales holding 51% and online sales making up 49%. Samsung led the online market, while Apple secured fourth place, thanks to strong sales of the iPhone 15. Vivo, on the other hand, dominated offline sales, with OPPO and Xiaomi following closely behind in second and third place.
All in all, India’s smartphone market is rapidly evolving, with 5G adoption and AI-driven features shaping the future of mobile technology. The strong performance of brands like Apple, Samsung, and Vivo indicates that demand for smartphones across all price ranges is only going to increase. As the market continues to expand, it’s clear that India will remain a key battleground for both global and local smartphone brands.
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