Report: There is a clear trend of consumption upgrading in India's smartphone market

Global Tech

2024-05-12 09:08Published in Beijing

On May 12, according to foreign media reports, according to the latest report by market research institute Counterpoint, the Indian smartphone market is ushering in a trend of consumption upgrading, and consumers are increasingly inclined to buy higher-end mobile phone models. As users' demands for mobile phone performance increase, such as gaming, artificial intelligence applications, and high-quality image capture, affordable financing programs and trade-in policies are driving this shift.

The report shows that the market share of high-end smartphones priced at more than Rs 30,000 has reached an all-time high of 20 per cent. In terms of market value, high-end devices account for 51% of the market, which means that more than half of the spending of Indian consumers on smartphones is concentrated on high-end models.

At the same time, 5G mobile phone shipments also reached a new high of 71%, and this growth is inseparable from the booming high-end market.

In terms of specific brand performance, vivo topped the list of smartphone shipments in India for the first time, thanks to its proven 5G technology and impressive camera capabilities. However, in terms of sales, Samsung still maintains its leading position. The average selling price of Samsung Galaxy phones reached a new high of about $425, mainly due to the hot sales of the Galaxy S24 series and the good performance of the revamped Galaxy A series.

Apple has also made significant progress in the high-end segment. Due to the strong sales of the iPhone 15 series, Apple leads the high-end market in terms of value and sales, especially in offline stores.

In addition, the report mentions a number of other brand developments to watch. Nothing was the fastest-growing brand, up 144% year-over-year, with the Nothing Phone (2a) being the most popular. Motorola's shipments are up 58% year-over-year, which analysts believe is related to Moto's material selection and Android UI. Xiaomi's shipments also achieved a year-on-year increase of 28%, ranking second in the market.

In terms of supply chain, MediaTek remains the main supplier of mobile phone chipsets in India, with a 53% market share, while Qualcomm has performed well in the high-end market, with a 35% market share.

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