The Indian smartphone market has witnessed a year-on-year (YoY) growth of over 4 percent in 2024, according to the International Data Corporation’s (IDC) worldwide quarterly mobile phone tracker report published on Monday.
India saw a strong 7 per cent growth in the first half of 2024, while it stagnated at just 2 per cent in the second half of the year. This also makes India the fourth-largest market in the world for Apple, while brands like Vivo and Samsung continue to dominate the market with a market share of 16.6 per cent and 13.2 per cent, respectively.
“The vendors and channel partners continued to provide price cuts, discounts, and extended device warranties in the post-festive period in 4Q24. While financing options were available across price segments, their impact was more pronounced in mid-range and premium devices throughout the year, with ‘No Cost EMIs’ for up to 24 months being the most popular,” said Upasana Joshi, senior research manager, Devices Research, IDC Asia Pacific.
This growth was mostly driven by price cuts and no-cost EMI schemes with up to 24 months, which also boosted sales of mid-range and high-end smartphones.
Apple has shipped a total of 12 million units of iPhones in 2024 in India, showing a 35 percent YoY growth. Devices like the iPhone 15 and iPhone 13 were the most popular iPhone models in the country, thanks to their affordable price tags. With a total market share of 10 per cent, Apple has, for the first time, become the fifth-biggest smartphone vendor in the country.
This has also led to an increase in the average smartphone selling price to $259, or approximately Rs 22,683. Among the 151 million devices sold, 120 million, or 79 per cent, were 5G-capable devices. Both online and offline vendors have witnessed a similar growth of around 4 per cent.
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