Overall, the Indian smartphone market shipped 151 million units in 2024, reflecting 4% lukewarm growth over the previous year, down to price reductions and non-cost EMI schemes, according to IDC reports. Masu. In particular, the pace of growth slowed down by just 2% against 2% over the first six months of the year.
“Vendors and channel partners will continue to offer price reductions, discounts and extended device guarantees during the postfestive period,” said Upasana Joshi, Senior Research Manager, Device Research, IDC Asia-Pacific. In the first half of 2024, funding options were available across the price segment, although it stagnated at just 2% in the second half of the year. Costs for up to 24 months are the most popular. ”
The average selling price rose 2%. This has fallen sharply from double-digit growth over the past three years.
India became Apple’s fourth largest market in 2024, after the US, China and Japan, as cargo reached a record 12 million units in the country, according to the report. Apple was first ranked among the top five brands from October to December, with a 10% market share. The iPhone 15 and iPhone 13 are the highest shipping models, accounting for 6% of total shipments during the quarter. Apple, Motorola, and the lesser known IQOO were depleted from 76%, 68% and 65% in 2022, 2023 and 2024, respectively, making their respective unknown IQOOs gaining status .
The share of 5G smartphone shipments increased from 55% in the previous year to 79%. Meanwhile, their average selling price fell 19% year-on-year, to now $303 or about Rs 26,000.
The outlook for this year is not exciting either. IDC forecasts a 5% increase in the market as weakening of the rupee could affect the average selling price.
“Because of low single-digit growth rates in 2024, growth in 2025 will rely on stronger performance in the mass segment and offer more products in the entry premium segment of the upgrade.”
“Generating AI capabilities and use cases are key differentiators, moving beyond flagship models and becoming more common in different price ranges. Online-centered long-tail brands to maintain growth Adventures offline to. However, weakening of the rupee could affect average selling prices, limiting annual growth in 2025 to less than 5%.”
