Overview:
India smartphone market shipments were in line as per our expectations in Q1 2024 as the market grew 9% YoY driven by new launches and premium segment growth. However, sales were low which led to inventory built-up. Consumer demand is expected to improve around the festive period, with upgrades further boosting later in the second half of the year. Therefore, overall we believe the market will witness single digit growth of 3% in 2024 driven by premium segment and 5G upgrades.
5G upgrades were better than our expectations since the penetration reached 70%. as OEMs introduced 5G capabilities in the lower price segment as key differentiators. Overall we estimate 5G share to increase to 77% in 2024. The premium segment is expected to cross 20% shipment share in 2024. Consumers jumping price bands and going for better featured smartphones will help this price band.
In this report you will find India smartphone shipments forecast by:
- India handset brand wise volumes till 2025
- India Smartphone brand wise volumes till 2025
- India Feature phone brand wise volumes till 2025
- India Smartphone Volume By Tech (4G and 5G split)
- India Smartphone volume By Price-Band
- India smartphone volume By Channel (Online & Offline)
Published Date: June 2024