Overview:
The India smartphone market started 2024 on a positive note with 8% YoY growth in January 2024. Indian smartphone market started on a positive sentiment as ASP witnessed 7% YoY growth (Retail) and reached to $295 in Jan 2024. As premiumization and 5G enabled devices demand are increasing, ASP has increased for all the major brands. The Ultra-premium (>$650) experienced an 18% YoY growth in Jan-2024, primarily driven by the iPhone 15 and the launch of the AI featured Galaxy S24 series.
The offline channel grabbed a 62% share in Jan 2024. Consumers purchase preference is moving more towards the offline channel. Online channel share further reduced to 38% due to the increasing shift in consumer preference towards offline channel, the Republic Day sale offers and promotions were observed on both offline and online channels during the month.
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Author
Shilpi Jain
Shilpi is a Senior Analyst with Counterpoint Technology Market Research, based out of Gurgaon. She has more than 9 years of work experience in consulting and market research field. She closely tracks mobile devices and ecosystem at Counterpoint and led various research and consulting projects.
She holds a Master's in Business Administration from Fore School of Management, specializing in Finance, and a Bachelor's degree in Economics from Daulat Ram College, Delhi University.
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