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India shipped 34 million smartphones in Q1 of 2024; 11.5 pc YoY growth

Representative Image (Source: Pexels.com)

India’s smartphone market shipped 34 million smartphone units in the first quarter of 2024. It also registered a 11.5 per cent growth YoY (year-over-year), making it the third consecutive quarter of growth in shipments, as per the Worldwide Quarterly Mobile Phone Tracker by International Data Corporation.

However, the share entry level segment in all smartphones of upto USD 100 declined to 15 per cent, down from 20 per cent a year ago. Xiaomi continued to lead this space, followed by Poco (2nd) and itel (3rd).

The average selling price (ASP) of smartphone remained flat YoY and QoQ at USD 263, ending the streak of strong ASP rise for the last several quarters.

The share of Apple, with an ASP of USD 953, had a record first-quarter shipment, growing by 19 per cent YoY. Price discounts, special deals on e-Tailer platforms, and attractive financing options led to this consistent growth for Apple beyond the festive season. iPhone 14/15 made up 56 per cent of shipments for Apple.

The data highlights that 23 million 5G smartphones were shipped in the quarter. The share of 5G smartphone shipments increased to 69 per cent, up from 46 per cent in 1Q23, while 5G smartphone ASPs dropped to USD 337, a decline of 21 per cent YoY in 1Q24. Within 5G, shipments of the mass budget (USD 100