The 5G smartphone shipments share increased to 70 per cent in the first quarter of 2024, marking a notable 91 per cent Year-on-Year (YoY) growth. Interestingly, the surge in 5G shipments is driven by budget 5G handsets in the price range of Rs 10,000 to Rs 15,000.

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"The 5G smartphone shipments share increased to 70%, marking a notable 91% YoY growth. Interestingly, 5G smartphones in the price band of INR 10,000 to INR 15,000 grew by >400% YoY," said CyberMedia Research (CMR)’s India Mobile Handset Market Review Report.

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According to Menka Kumari, Analyst- Industry Intelligence Group, CyberMedia Research (CMR), India's smartphone market has witnessed a significant surge in 5G adoption.

"5G continues to diffuse to more affordable price tiers, especially in the INR 10,000 to INR 15,000 price band. The onset of AI phones further fueled the premiumization wave. The superpremium smartphone category (>INR 50,000) experienced a notable 47% YoY growth, indicating a rising preference among consumers for high-end devices," Menka Kumari said.

Smartphone Market in Q1 2024

While India's smartphone market grew 10 per cent YoY, the CMR report highlighted that it is the value-for-money smartphone segment (Rs 7,000 - Rs 25,000) that constituted the largest share at 65 per cent. The Affordable smartphone segment (<Rs 7,000) experienced 16 per cent YoY growth.

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The premium smartphone segment (over Rs 25,000) recorded remarkable YoY growth of 71 per cent fueled by easy payment options and premium features like AI.

Other Key Market Highlights in Q1 2024

POCO, Xiaomi's sub-brand, experienced 48 per cent YoY growth in smartphone shipments.

Vivo 5G smartphone shipments recorded an impressive 358 per cent YoY growth.

Realme 5G smartphone shipments recorded a remarkable growth of 168 per cent YoY.

Apple captured a 6 per cent market share in the smartphone market in Q1 2024. 

The Apple iPhone 15 series constituted >60 per cent of its total shipments.

Transsion Group brands, including itel, Infinix, and Tecno, recorded a 12 per cent YoY increase in shipments (combined for smartphones and feature phones).