India’s premium smartphone segment continued its strong double-digit growth momentum last year, with Apple securing a spot among the top five smartphone brands in India for the first time in Q4 2024, according to a report released on Tuesday.
Apple recorded a 72% year-over-year growth, capturing an 11% market share in Q4. Similarly, the super-premium smartphone segment and the uber-premium segment (above $1,200) posted impressive gains, up 10% and 25%, respectively, according to the CyberMedia Research (CMR) report.
Apple’s market share in the super-premium segment ($600–$1,200) skyrocketed by 82% year-over-year, while the uber-premium segment (above $1,200) surged by 32% year-over-year. Aggressive marketing, deep festive discounts, and strong demand for both the latest and previous-generation iPhones enabled this market growth, according to the report.
According to Menka Kumari, senior analyst at Industry Intelligence Group (IIG), CMR, in 2024, India’s smartphone market presents a complex picture of a heterogeneous consumer base. On one end, the premium segment continues to expand, reflecting a shift toward high-performance lifestyle statements. On the other hand, the under $120 segment is experiencing green shoots of recovery, she mentioned.
Across price segments, affordability and accessibility initiatives are empowering consumer aspirations and driving market growth. The Indian smartphone market in 2024 saw mixed trends across segments. While the affordable segment grew slightly by 1% year-over-year, the value-for-money segment declined by 7%, reflecting a shift toward premium smartphones, the findings showed.
The sub-$120 5G segment saw 80% year-over-year growth in 2024, driven by new launches and rising demand for affordable, feature-rich smartphones.
