Indians are Spending More and More on Super Premium Smartphones in 2024

According to the International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker, in Q1 2024, the super-premium device segment ($800+ or approx Rs 67,000), grew 44% in terms of shipments, the highest growth registered for any price category. Its market share went up from 7% to 9%. 

Highlights

  • The arrival of affordable data bolstered the smartphone industry in India.
  • A shift is taking place from the semi-premium and premium to super-premium devices.
  • The iPhone 14/15/14Plus/15Plus together accounted for 64% of shipments in this segment.

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indians are spending more and more super

The arrival of affordable data bolstered the smartphone industry in India. A shift is taking place from the semi-premium and premium to super-premium devices. Smartphones are not just a calling tool, they are platforms for what you can do in life (create content, consume content, get entertained, attend meetings, take notes, and a lot more), but also what your current social status is. Suppose you have a new iPhone or a flagship Samsung S series device. In that case, your status is automatically assumed to be of a high net-worth individual (not applicable to everyone, but most people).




If you don't believe that Indians are spending more and more on premium smartphones today, here's some data to support it.

Read More - POCO F6 India Launch on May 23, 2024: Expected Specifications

How Much Indians are Spending on Super Premium Smartphones in 2024

According to the International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker, in Q1 2024, the super-premium device segment ($800+ or approx Rs 67,000), grew 44% in terms of shipments, the highest growth registered for any price category. Its market share went up from 7% to 9%.

The iPhone 14/15/14Plus/15Plus together accounted for 64% of shipments in this segment. Apple is ruling the super-premium device segment in India, followed by Samsung, whose Galaxy S24/S24 Ultra/S23/S24+ accounted for a 25% share. So about 89% of the share in this segment is owned by iPhone and Samsung, leaving a mere 11% for other brands such as Xiaomi, OPPO, and more.

Read More - Apple Watch has Saved Many Lives, Here’s How

A total of 34 million units of smartphones were shipped in Q1 2024 in India, a growth of 11% YoY. What's interesting here is that while the super-premium price segment saw a growth in the number of devices shipped, the premium ($600-$800) and mid-premium segment ($400-$600) saw a decline.

The premium segment saw a decline of 21% in device shipment during the quarter compared to the previous year, leading its share to fall to a mere 2%. The mid-premium segment saw a decline of 46%, and its share fell from 6% to 3%. So either users are spending more money of entry premium devices (under Rs 30000) or they are spending money to get super premium flagships.

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Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

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