Apple Registers Record First-quarter In India Shipments, Up 19% YoY
Despite facing challenges in the mid-premium segment, Apple continued to assert its dominance in the premium and super-premium segments
Apple emerged as a dominant force in Indian smartphone market in the first quarter of 2024. The company achieved some new highs with significant milestones reached in terms of shipments and market share.
According to the International Data Corporation’s (IDC) report, Apple’s performance in Q1 2024 was characterised by a 19 per cent year-over-year (YoY) growth in shipments. This stellar performance was backed by strategic combination of price discounts, special deals on e-tailer platforms and attractive financing options, all of which contributed to sustaining Apple’s growth momentum beyond the festive season.
Despite facing challenges in the mid-premium segment, Apple continued to assert its dominance in the premium and super-premium segments. Key models such as the iPhone 14/15 series accounted for a significant portion of Apple’s shipments, contributing to the brand’s stronghold in the upper echelons of the market.
According to trade intelligence platform The Trade Vision, Apple’s iPhone exports from the country close to doubled from USD 6.27 billion to USD 12.1 billion in 2023-2024. Meanwhile, Counterpoint findings mention that Apple shipments crossed 10 million mark last year, which helped the company capture #1 spot revenue-wise in a calendar year.
Premium Smartphone Category On Growth Trajectory
In the entry-premium segment (USD 200<USD 400), there was a notable uptick, with market share escalating from 20 per cent to 23 per cent, a 25 per cent YoY surge. Key contenders in this bracket, such as Oppo and realme, emerged as formidable players, jointly capturing nearly 30 per cent of the segment's market share.
Conversely, the premium segment (USD 600<USD 800) experienced a contrasting trend, holding a modest 2 per cent share and witnessing a 21 per cent decline in unit terms. Despite the downturn, flagship models like the iPhone 13, Galaxy S23FE/S23, iPhone 12 and OnePlus12 continued to make their mark. Apple retained its dominant position with a commanding 45 per cent share, while Samsung saw a substantial uptick, securing 44 per cent of the segment, a significant rise from the previous year's 16 per cent.
The super-premium segment (USD 800+) emerged as a hotspot of growth, boasting a staggering 44 per cent surge. Expanding its market share from 7 per cent to 9 per cent of the overall market, this segment showcased notable dominance by Apple's iPhone14/15/14 Plus/15 Plus models, capturing 64 per cent of shipments. Following closely were Samsung’s Galaxy S24/S24 Ultra/S23/S24+ models, securing a 25 per cent share. Apple maintained its stronghold in this segment with a commanding 69 per cent share, while Samsung sustained a significant presence at 31 per cent.
