India’s premium smartphone segment continued its strong double-digit growth momentum last year, with Apple, for the first time, securing a spot among the top five smartphone brands in India in Q4 2024, according to a new report on Tuesday.
Apple recorded a 72% YoY growth, capturing an 11% market share in Q4.
Similarly, the super-premium smartphone segment and uber-premium segment (above Rs 1,00,000) posted impressive gains, up 10% and 25%, respectively, according to the CyberMedia Research (CMR) report.
Apple’s market share in the super-premium segment (Rs 50,000–Rs 1,00,000) skyrocketed by 82% YoY, while the uber-premium segment (above Rs 1,00,000) surged by 32% YoY.
Aggressive marketing, deep festive discounts, and strong demand for both latest and previous-generation iPhones enabled this market growth, according to the report.
According to Menka Kumari, senior analyst, Industry Intelligence Group (IIG), CMR, in 2024, India’s smartphone market presents a complex picture of a heterogeneous consumer base.
“On one hand, the premium segment continues to expand, reflecting a shift toward high-performance lifestyle statements, while on the other hand, the sub-Rs 10,000 segment is showing signs of recovery,” she mentioned.
Across price segments, affordability and accessibility initiatives are empowering consumer aspirations and driving market growth.
The India smartphone market in 2024 saw mixed trends across segments. While the affordable segment grew slightly by 1% YoY, the value-for-money segment declined by 7%, reflecting a shift toward premium smartphones, the findings showed.
The sub-Rs 10,000 5G segment saw 80% YoY growth in 2024, driven by new launches and rising demand for affordable, feature-rich smartphones.
(Inputs from IANS)
