India’s smartphone shipments fell two per cent year-on-year in June quarter, harm by the heatwave and slower demand, as per a report by world analysis agency Counterpoint that confirmed Xiaomi reclaimed prime spot in quantity share and Samsung led in worth phrases.
Notably, 5G smartphones captured their highest-ever share of 77 per cent within the general shipments, based on Counterpoint’s Month-to-month India Smartphone Tracker.
One other key takeaway was that India’s smartphone market hit its highest ever Q2 worth, pushed by the continued pattern of premiumisation.
“India’s smartphone shipments fell 2 per cent YoY in Q2 2024 (April-June),” it stated.
The decline was influenced by a heatwave, a seasonal hunch, and slower demand from Q1 2024.
“In response, OEMs (Authentic Tools Producers) hosted gross sales occasions in Q2 to clear stock, resulting in a lowered sell-in and a interval of degrowth,” it stated.
In the marketplace’s quantity dynamics, Senior Analysis Analyst Shilpi Jain defined that heatwave situations in varied areas led to decrease footfalls in offline channels and delayed smartphone purchases as shoppers prioritised home equipment like air-conditioners and fridges.
This lowered demand led to a listing build-up. Nevertheless, summer time gross sales at on-line channels, good harvest and aggressive promotions in the direction of the top of the quarter offered reduction to OEMs, serving to shut the quarter on a greater observe than originally.
“In the course of the quarter, Xiaomi reclaimed the highest spot with a 23 per cent YoY development in its shipments, pushed by a streamlined and centered portfolio that spans from the entry-level to reasonably priced premium segments,” Counterpoint stated.
Xiaomi reclaimed the highest spot with an 18.9 per cent cargo share, and Vivo adopted intently with 18.8 per cent share.
On worth dynamics, Analysis Analyst Shubham Singh stated: “In Q2 2024, India’s smartphone market achieved its highest ever Q2 worth, pushed by the continued pattern of premiumisation.” Shoppers continued to improve to higher-value smartphones, supported by higher trade-in values and simple financing schemes.
This resulted in a 24 per cent YoY development within the ultra-premium (over Rs 45,000) phase.
Samsung led the market when it comes to worth with a 25 per cent share, adopted by vivo and Apple.
“In the meantime, Apple ranked third in worth phrases. However it’s anticipated to rebound within the subsequent quarter, pushed by the current value cuts throughout the complete vary of iPhones,” Singh stated.
