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.
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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.
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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.
