Premium smartphone segment registers the highest growth in India | Technology News

The Indian smartphone market remained flat in 2023 with an overall shipment size of 44 million. However, the entry-premium, mid-premium, and premium segments have registered growth, and the average selling price of the smartphone has risen to US$253 or approx Rs 21,068.

The premium segment (US$600<US$800) has registered a massive 52 per cent year-on-year growth with a 3 per cent market share and phones like the iPhone 13/14, Galaxy S23/S23 FE and the Moto Razr 40 have helped this moment. Similarly, the mid-premium (US$400<US$600) has also registered a 37 per cent year-on-year growth with a 5 per cent market share.

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Indian smartphone market share by brands (Image credit: IDC)

“A swift uptake in affordable 5G smartphone shipments signals bullish sentiments and success of affordability efforts of the vendors. We should expect the previous generation of premium smartphone models to be in high demand this festive season, made affordable by various offers and upfront discounts across channels,” said Upasana Joshi, Research Manager, Client Devices, IDC India.

The mass budget segment (US$100<US$200) has underperformed in the country with a 14 per cent year-on-year decline. Despite that, it still retains a market share of 44 per cent. Foldable smartphones, which also come under the premium segment have also hit a record number of half a million units shipment in India with a 66 per cent market share, Samsung leads this chart.

With a market share of 16.2 per cent, Samsung is currently the biggest smartphone brand in the country, and realme is in the second position with a 15.1 per cent market share, while Vivo (excluding iQOO) has slipped to third position with a 13.9 per cent market share. Xiaomi and Oppo are in the fourth and fifth positions with a market share of 11.7 per cent and 9.9 per cent, respectively.

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