The premium category of the Indian smartphone market grew by 112% in the most recent quarter
According to a recent Counterpoint report, the Indian smartphone market’s free decline may be coming to a stop. In contrast to the first quarter of the year, the shipments dropped by 3%. This is actually less than what was anticipated by the industry analysts.
According to Counterpoint researchers, the market conditions have improved given the fact that inflation was reduced. It should have a good impact on smartphone sales. When it comes to the premium smartphone category, a 112% growth rate was observed for YoY. That seems to be consistent with earlier research suggesting that the developing Indian smartphone industry is gradually moving towards more expensive devices.
Well, it could be the possible reason why Xiaomi is lagging behind in this competition. As per recent pieces of information, the South Korean tech firm Samsung held an 18% share in the second quarter of the year. It managed to acquire the most sales in the country. Besides Samsung, other smartphone companies like Vivo, Xiaomi, Realme, and Oppo can be found in the list.
Given the premium market of smartphones, Samsung was able to grab the top spot because of its foldable. It surpassed Apple in this respective category. The major element of the company’s success was Samsung’s Finance+ program. However, in the ultra-premium market i.e., above INR 45,000, the top lead is Apple. The Cupertino-based tech form was able to hold a 59% market share. Intriguingly, India is now ranked in one of the top five markets for Apple. Finally, the company has grabbed the required attention in the region after years of insignificant sales in India.
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