According to International Data Corporation ’s (IDC) report, India’s smartphone market grew four per cent year-over-year (YoY), with shipments reaching 151 million units. A strong first half with seven per cent growth compensated for slower growth in the second half at only two per cent. After five consecutive quarters of growth the market witnessed a cyclical dip in fourth quarter (Q4) of 2024, shipping 36 million units and declining by three per cent.
The report highlighted that India became the fourth largest market for Apple in 2024, after USA, China, and Japan, as shipments reached a record 12 million units in the country, with 35 per cent YoY growth. In Q4 2024, Apple entered the top five brands in India for the first time with a 10 per cent share. iPhone 15 and iPhone 13 were the highest shipped models, accounting for six per cent of overall shipments during the quarter.
As per the report, while the average selling price (ASPs) reached a new high of $ 259 in 2024, the two per cent YoY growth was significantly lower than the double-digit growth seen the previous three years. The entry-premium ($ 200 to $ 400) segment registered the highest growth of 35.3 per cent YoY, with a 28 per cent share, up from 21 per cent a year ago. The premium segment ($ 600 to $ 800) grew 34.9 per cent, with its share up to four per cent from three per cent. Key models were the iPhone 15/13/14, and Galaxy S23/S24. Apple and Samsung’s share increased in this segment, led by the previous generation models.
It mentioned that 120 million 5G smartphones were shipped in the year. The share of 5G smartphone shipments increased to 79 per cent, up from 55 per cent in 2023, while 5G smartphone ASPs declined by 19 per cent YoY to $ 303. Within 5G, shipments of the mass budget ($ 100 to $ 200) segment almost doubled, reaching 47 per cent share. Xiaomi Redmi 13C, Apple iPhone 15, vivo Y28, Apple iPhone 13, and vivo T3X were the most shipped 5G models in 2024.
Further, it noted that shipments to offline and online channels grew almost at par by four per cent YoY, and shares remained similar at 51 per cent and 49 per cent, respectively, in 2024. Samsung continued to lead in the online channel, while Apple climbed to the fourth position, with iPhone 15 as the highest shipped smartphone online. Within the offline channel, vivo maintained its dominance, while OPPO and Xiaomi climbed to the second and third spots, respectively. Overall, vivo surpassed Samsung for the leadership position in 2024, with its consistent omnichannel play, diversified portfolio across price segments and channel support. Nothing registered the highest growth overall, followed by Motorola and iQOO annually. The long tail of brands collectively gained ground in 2024, as the share of the top five vendors depleted from 76 per cent, 68 per cent, and 65 per cent in 2022, 2023, and 2024 respectively.
Furthermore, 54 million feature phones were shipped annually, declining by 11 per cent YoY. Transsion continued to lead with a 30 per cent share, followed by Nokia and Lava. Overall, 205 million mobile phones were shipped, registering a 1 per cent annual drop.
Commenting on the report, Upasana Joshi, senior research manager, devices research, IDC Asia Pacific, said, “The vendors and channel partners continued to provide price cuts, discounts, and extended device warranties in the post-festive period in Q4 2024. While financing options were available across price segments, its impact was more pronounced in mid-range and premium devices throughout the year, with the ‘No Cost EMIs’ for up to 24 months being most popular.”
Meanwhile, Navkendar Singh, associate vice president, devices research, IDC India, said, “With a low single-digit growth in 2024, growth in 2025 hinges on a stronger performance in the mass segment ($ 100 to $ 200) and more offerings in the entry-premium segment ($ 200 to $ 400) for upgraders. Generative artificial intelligence (GenAI) features and use cases will start being key differentiators, moving beyond flagship models and becoming more prevalent across different price points. Online-focused long-tail brands will venture offline to sustain growth. However, the weakening rupee could impact ASPs, potentially restricting annual growth to below five per cent in 2025.”
