Pacific Science and Technology InformationAccording to the market research report released by Counterpoint Research, the Indian smartphone market will continue to grow in the first quarter of 2024.It is reported that the shipment volume increased by 8% year on year, while the shipment amount increased by 18% year on year.
The report points out that there are two main factors driving the growth of mobile phone shipments in this quarter.First of all, the healthy inventory level provides more choices for the market, and consumers can more easily buy their favorite mobile phones.Secondly, the low base in the first quarter of 2023 is also an important reason for the growth of shipments.This means that in the past few months, mobile phone sales have increased due to a low base.
From the perspective of shipment volume, high-end products have become the key factor to promote market growth.Samsung Galaxy S24 and OnePlus 12 series mobile phones occupy a prominent position in the shipment volume, and the introduction of these high-end products has brought higher added value to the market.Among them, the sales volume of the market segment with a price of more than 30000 rupees accounted for 20%, and the sales volume reached an astonishing 51%.
It is worth noting that Vivo has performed well in terms of shipment volume. With its leading position in 5G, CMF (color, material, surface treatment) positioning and powerful imaging ability, it has occupied the first place in sales volume for the first time, accounting for 19%.In addition, Samsung is in the leading position in the market segment above INR 20000, and its average selling price has reached the highest level in history, about 425 US dollars (about 3073 yuan).
In general, the Indian smartphone market showed strong growth momentum in the first quarter of 2024.With the increasing demand of consumers for high-end products and the continuous innovation of brands in technology, design and function, the prospect of this market is still very broad.It is expected that the Indian smartphone market will continue to grow in the next few years.
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