According to the latest report from market research firm Counterpoint Research, the first quarter of 2024 saw an 8% year-over-year increase in smartphone shipments in India, while shipment value grew by 18%.
The report highlights two main drivers for the growth in smartphone shipments this quarter: a healthy level of inventory and a low base in the first quarter of 2023.
In terms of shipment value, high-end products played a significant role.
The Samsung Galaxy S24 and OnePlus 12 series helped the segment of the market with prices above 30,000 Indian Rupees to account for 20% of shipments by volume and 51% by value.
In terms of volume, vivo took the lead with a 19% market share, marking its first time as the sales leader. This was attributed to vivo’s leading position in 5G technology, strategic positioning in CMF (Color, Material, Finish), and strong imaging capabilities.
Samsung, on the other hand, led in the higher-priced segment of the market, with average selling prices reaching an all-time high of approximately 425 USD.
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