India’s 5G Smartphone Market Share Rises to 77% in Q2, Average Price Drops
New Delhi: According to a report released on Tuesday, India’s 5G smartphone market share surged to 77 percent in the second quarter (Q2) of 2024, a significant increase from 49 percent during the same period last year. The report also highlights that the average selling price of 5G smartphones decreased by 22 percent to $293 (approximately Rs 24,000). During the April-June quarter, nearly 27 million 5G smartphones were shipped.
The overall Indian smartphone market experienced a shipment of 69 million units in the first half of 2024, marking a 7.2 percent year-over-year (YoY) growth. In Q2 alone, 35 million smartphones were shipped, reflecting a 3.2 percent YoY increase.
Despite this growth, the report notes that the market is still facing challenges such as muted consumer demand and rising average selling prices (ASPs), which are hindering a more rapid recovery. “In addition to clearing old inventory in the early part of the quarter, vendors began launching new models, particularly in the mid-premium and premium segments, starting mid-quarter in preparation for monsoon sales,” said Upasana Joshi, Senior Research Manager, Devices Research at IDC India.
The entry-level smartphone segment (priced below $100) saw a notable decline of 36 percent YoY, reducing its market share to 14 percent from 22 percent a year ago. Xiaomi led this segment, followed by Poco and Realme.
In contrast, the mass budget segment (priced between $100 and $200) grew by 8 percent YoY, with Xiaomi, Realme, and Vivo capturing 60 percent of this market segment.
The premium segment, which holds a 2 percent share of the market, saw a 37 percent decrease in unit shipments. Notable models included the iPhone 13, Galaxy S23FE, iPhone 12, and OnePlus 12. Apple’s market share in this segment increased to 61 percent YoY, while Samsung’s share rose to 24 percent from 21 percent a year ago.
Online channel shipments grew by 8 percent YoY, increasing their share to 50 percent in Q2, compared to 47 percent in Q2 2023.
