Tech experts said on Tuesday that luxury smartphone sales in the country have increased in recent quarters with the increase in disposable income amid the trend of premiumization. According to Counterpoint Research, shipments of smartphones priced at Rs 1 lakh and above grew 20 per cent year-on-year in the first quarter of the current calendar year and 10 per cent in the second quarter. The market share of the Rs 1 lakh and above segment stood at a little over one per cent in the first half of this year.
The director of Counterpoint Research said this
Tarun Pathak, Director at Counterpoint Research, told IANS, "This share is expected to increase marginally in the second half with the arrival of Samsung Galaxy foldables and the new Apple iPhone series."
He further said that in 2021, the sale of luxury or super-premium smartphones in the country had increased by 14 percent. Next year in 2022, it increased by 96 percent and in 2023 by 53 percent. In the year 2023, Samsung captured 52 percent share in the super-premium smartphone market, while Apple’s share was 46 percent.
Demand for phones with better features is high
According to Prabhu Ram, Vice President-Industry Research Group, Cyber Media Research (CMR), the wave of premiumisation is continuously getting stronger in the Indian smartphone market. He told IANS, "Users are now preferring smartphone devices that not only offer better features and specifications but also act as a lifestyle statement."
According to him, uber-premium smartphones priced at Rs 1 lakh and above have seen a remarkable growth of 80 per cent year-on-year in the country in the first half. In the April-June quarter, Samsung dominated the market with a 25 per cent share by value, followed by Vivo and Apple. However, Apple is expected to recover in the next quarter due to the recent price cuts across the entire iPhone range.
In the second quarter of this year, the market share of 5G smartphones in India stood at a record 77 percent, mainly due to their declining average selling price (ASP).
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