NEW DELHI: Domestic mobile market witnessed a significant shift towards the premium segment in Q1, 2024, as for the first time ever premium smartphones captured a remarkable 20% share in terms of volume and a 51% share of the overall market value.
This reflects a growing consumer preference for high-end devices (priced at Rs 30,000 and above). As per the Counterpoint’s Monthly India Smartphone Tracker, Samsung and Apple maintain their dominance in value segment, holding 25% and 19% market shares, respectively.
“During the quarter, India’s smartphone market reached its highest ever Q1 value. The growth was driven by the strengthening trend of premiumization, with consumers upgrading to higher-value smartphones across price tiers…
Factors driving this trend include affordable financing schemes, better value for trade-ins, and bundled schemes, along with the demand for top-tier features such as AI, Gaming, and imaging enhancements,” said Senior Research Analyst Shilpi Jain.