Apple Leads India’s Premium Smartphone Market Surge

The Indian smartphone market is experiencing significant growth, with a 5% increase year-over-year in the third quarter, according to a report by Counterpoint. This growth has been primarily driven by festive sales and attractive discounts that have encouraged consumers to purchase new devices. Alongside online sales, offline campaigns have played a crucial role, offering easy financing and trade-in options that incentivize phone manufacturers to prepare their inventory in advance.

One of the standout findings of the report is the remarkable 29% growth in the premium smartphone segment. This shift in consumer preference towards higher-value devices has resulted in an 18% increase in the overall market value, alongside a 13% rise in the average selling price (ASP). The surge in demand for premium devices has largely been attributed to key players like Apple and Samsung.

Apple has emerged as a dominant force, capturing a 28% value share of the market, primarily driven by the popularity of its iPhone 16 and iPhone 15 series. The newly launched iPhone 17 series has also seen demand that exceeds its predecessors, further solidifying Apple's position in the premium segment. Samsung follows closely behind with a 23% value share, propelled by its Galaxy S series devices, as well as strong sales from the mid-range A tier. Notably, the Galaxy Z Fold 7 recorded exceptional sales, enhancing Samsung's influence in the foldable smartphone market.

Vivo, excluding its iQOO brand, secured a 14% market share and led in terms of unit volume, accounting for approximately 20% of total sales. The company's robust offline presence and the success of its T series contributed to its strong performance in the mid-range segment. Meanwhile, Oppo experienced a slight decline in revenue share but managed to increase its volume share by 13%, intensifying competition with Samsung.

Emerging brands like iQOO and Motorola have also made impressive strides, with iQOO achieving a remarkable 54% year-over-year growth in terms of volume, while Motorola recorded a 53% increase in shipments. In the budget segment, Lava has emerged as the fastest-growing brand, boasting a staggering 135% increase in year-over-year shipments. This landscape underscores the vibrant competition and evolving preferences among Indian consumers in the smartphone market.