New Delhi, November 14 (UITV)- India’s smartphone market is likely to end 2024 with single-digit annual growth. According to a new report, iPhone maker Apple has registered a significant increase in its shipments in India in the third quarter of 2023 and has reported its largest quarterly shipment ever. Apple shipped 4 million units in India during this quarter, which is considered a remarkable success.
According to the report, in the three-month period from July to September, smartphone shipments in India reached 46 million units. This represents a growth of 5.6 percent year-on-year. Upasana Joshi, Senior Research Manager, Device Research at IDC Asia Pacific, explained the reasons for the growth in this period. He said that in the biggest quarter of the year, attractive discounts, various finance options, extended device warranty and cashback bank offers led to a surge in smartphone demand in both online and offline channels.
In addition, the launch of several new 5G smartphones also boosted smartphone demand. Joshi said that the biggest attraction during the sale through e-tailers was the attractive discounts on last year’s flagship models of Apple and Samsung. As a result, the share of 5G smartphone shipments increased from 57 percent in the third quarter of last year to 83 percent. About 38 million 5G smartphones were shipped in this quarter, which is a big figure.
Shipments of online channels saw an increase of 8 percent and due to this its share increased from 50 percent in the third quarter of last year to 51 percent this time. According to the report, Apple emerged as the second largest player in the online channel and iPhone 15 and iPhone 13 were the most shipped models.
Shipments also saw an increase in the offline channel. Shipments to the offline channel grew by 3 percent in the third quarter of 2024, which makes it clear that brands are increasing attractive schemes and offers for both channels. Vivo has contributed significantly to this growth, which maintained its lead for the third consecutive quarter. Vivo performed well through its Y series and the recently launched T3 and V40 series.
Oppo also recorded the highest growth among the top 5 brands due to affordable new launches. Affordable smartphones like the A3X/K12X and Reno 12 series helped Oppo strengthen its position in the market. Motorola and iQOO also performed well, while the Nothing brand achieved the highest growth in the quarter.
Overall, some brands have maintained their strong position in the smartphone market, while new brands and affordable options have also made their place in the market. However, India’s smartphone market may face relatively slow growth in 2024, but despite this, some major companies have performed well, especially through 5G smartphones and attractive offers.
