For the first time, Vivo led the market in terms of volumes in a single quarter.
New Delhi:
Compared to a year ago, in the first quarter of this year, smartphone sales in the country have increased by 8 percent in terms of numbers and 18 percent in terms of value. Customers have shown interest in leaving their old phones and buying expensive phones. Counterpoint Research’s report released on Thursday said that out of every 100 smartphones sold during the quarter, 71 percent were 5G smartphones.
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The share of the premium segment in the country’s overall smartphone market has reached its highest ever level of 20 percent (51 percent by value).
Senior research analyst Shilpi Jain said, “India’s smartphone market reached its highest value in the first quarter. People are buying more premium phones. This has increased the revenue in the smartphone market.”
More than one-third of mid-tier consumers are willing to upgrade to the premium segment. He further said that the factors behind this trend include affordable financing plans, better value for trade-in and bundled plans. Also included is the demand for top features like AI, gaming and imaging enhancements.
For the first time, Vivo led the market in terms of volume in a single quarter. Samsung led the market in terms of value after capturing more than one-fourth of the total market value. Samsung’s average selling price (ASP) has also reached an all-time high in the country.
According to the report, “We expect the country’s smartphone market to grow in single digits in 2024 driven by strong premiums, 5G adoption and post-Covid upgrades.”
