India smartphone shipments fall 2% YoY in Q1, Samsung remains Indias top brand by value
Commenting on the markets volume dynamics, Senior Research Analyst Shilpi Jain said that the reduced demand caused an inventory build-up.
India's smartphone shipments fell two per cent year-on-year in the first quarter of financial year 2024-25. According to Counterpoint’s Monthly India Smartphone Tracker, the decline was influenced by a heatwave, a seasonal slump and slower demand.
Commenting on the market’s volume dynamics, Senior Research Analyst Shilpi Jain said that the reduced demand caused an inventory build-up.
“Heatwave conditions in various regions led to lower footfalls in offline channels and delayed smartphone purchases as consumers prioritized appliances like air conditioners and refrigerators. This reduced demand caused an inventory build-up. However, summer sales at online channels, good harvest and aggressive promotions towards the end of the quarter provided relief to OEMs, helping close the quarter on a better note than at the beginning," Jain added.
The research also showed that Xiaomi reclaimed the top spot in volume share and Samsung led in value terms.
Samsung consolidated its smartphone leadership in India by securing a 25 per cent value market share in the quarter ended June 2024, according to Counterpoint Research. It was the second consecutive quarter when Samsung led in value terms, the research company added.
“Samsung’s new Fold 6 series is expected to sustain this leadership. With the brand focusing on value over volume, its ultra-premium segment (>INR 45,000) grew by 99 per cent YoY in Q2 2024,” Counterpoint Research said in a statement.
According to Counterpoint, India’s smartphone market achieved its highest-ever Q2 value, driven by the ongoing trend of premiumization. Consumers continued to upgrade to higher-value smartphones, supported by better trade-in values and easy financing schemes, the research company said.
“This resulted in a 24 per cent YoY growth in the ultra-premium (>INR 45,000) segment,” Shubham Singh, Research Analyst with Counterpoint Research said.
The Rs 20,000 - 30,000 and Rs 45,000+ price bands saw the fastest growth at 25 per cent and 24 per cent YoY," the research firm added.
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