KIANEWS 
HMD Global today unveiled its latest smartphone, the HMD Fusion, an affordable device whose idea is to change functions and style with a shell. This is how the HMD Fusion will initially be distributed, but additional devices will be available later this year.
Indian Smartphone Market Grows 6% in Q3 2024
19. 11. 2024 Tuesday / By: Robert Denes / Business / Exact time: BST / Print this page
The Indian smartphone market has recorded its fifth consecutive quarterly growth, reaching 46 million units in Q3 2024, reflecting a 5.6% growth over the same period last year. During this period, Apple achieved its highest ever quarterly shipments in India, at 4 million units, as reported by IDC Worldwide Quarterly Mobile Phone Tracker.
This robust growth was driven by extensive discounts, flexible financing, extended warranties and cashback offers available across online and offline channels. The demand growth was further fueled by the launch of new 5G smartphones, discounted flagships from brands like Apple and Samsung, which proved popular during large online sales, noted Upasana Joshi, senior research manager for Asia Pacific at IDC. Average Selling Price (ASP): Smartphone ASP increased by 0.9% year-over-year (YoY) and 3.8% quarter-over-quarter (QoQ) to $258. Entry-Premium Segment: The $200-400 price bracket grew by 42% year-over-year, now accounting for 28% of the market, up from 21% a year ago. In this segment, OPPO achieved the highest growth, while Samsung and vivo saw their market share decline. Together, these three brands hold 53% of the segment.
Premium Segment: The $600-800 price bracket saw the highest growth, up 86% year-over-year, capturing 4% of the market. The key models included the iPhone 15, 13, 14, Galaxy S23, and OnePlus 12. Apple’s market share increased to 71%, while Samsung’s share fell to 19% from 30% last year. About 38 million 5G smartphones were shipped in the third quarter, with 5G devices accounting for 83% of total smartphone shipments, up from 57% in the third quarter of 2023. The ASP of 5G phones decreased by 20% year-on-year to $292. The mass budget 5G segment ($100-200) reached 50% market share, with popular models such as the Xiaomi Redmi 13C, iPhone 15, OPPO K12x, and vivo T3x and Y28.
Shipments via online channels increased by 8% year-on-year, accounting for 51% of total shipments, with Apple the second largest player in this channel, driven by sales of the iPhone 15 and iPhone 13. Offline shipments increased by 3% year-on-year, with brands offering similar deals across both channels. Apple had a record quarter, shipping 4 million units, driven primarily by the iPhone 15 and iPhone 13 models. This growth widened the value share gap between Apple and Samsung, which was 28.7% and 15.2%, respectively. Vivo maintained its lead for the third consecutive quarter, supported by the Y series and the newly launched T3 and V40 series. OPPO achieved the highest growth among the top five brands, driven by affordable models such as the A3x/K12x and Reno 12 series. Nothing also did not show the highest overall growth, closely followed by Motorola and iQOO. After strong shipments in Q3, India's smartphone market may face a seasonal demand slowdown after the festive season, with higher inventory levels expected in Q4 2024. Year-on-year growth is forecast to remain in the low single digits in 2024.
Via LinkNavkendar Singh, AVP of device research at IDC, said that strong growth in 2025 will depend on momentum in the mass and entry-premium segments ($100-$400), with expected launches offering more affordable options and focusing on Gen AI capabilities.