After dominating global smartphone sales in 2023, Apple had to pass the crown back to Samsung at the start of 2024. However, the mobile industry is never black and white, with various shades of gray surrounding both companies’ Q1 results worldwide.
In India, Samsung was named the volume champion for the quarter by one research firm, while another ranked them third. Despite this, Samsung remains the top-selling smartphone brand by value in India between January and March 2024. Their value share increased from 23% to 25%, even though their volume share dropped slightly.
Counterpoint Research and Canalys reported differing data for Q1 2024, with Vivo’s position varying widely. Xiaomi consistently placed second in shipments in both reports. Apple followed Samsung in terms of value share at 19%, with strong sales of the iPhone 15 series setting new records in India.
Looking ahead, we can expect solid growth in the telecommunications industry due to premiumization, 5G adoption, and post-COVID upgrades. Brands are focusing on increasing profit margins rather than chasing double-digit volume progress.
Samsung achieved a new all-time high average selling price (ASP) of $425 for smartphones in India, driven by the success of the Galaxy S24 series and Galaxy A lineup. As new high-end models like the Galaxy Z Fold 6 and Z Flip 6 launch, ASP is expected to rise further for Samsung, Apple, and OnePlus.
Despite strong growth from brands like Nothing and Motorola in India during Q1 2024, competition remains fierce among various companies vying for dominance in this crowded market.
Overall, India’s smartphone market continues to be highly competitive and dynamic as brands strive for supremacy and growth amidst evolving consumer preferences.
