India shipped 34 million smartphones in Q1 2024; 11.5 percent increase on annual basis

India’s smartphone market is expected to sell 34 million smartphone units in the first quarter of 2024. According to Worldwide Quarterly Mobile Phones, it recorded an increase of 11.5 percent year-on-year, making it the third consecutive quarter of growth in shipments. Tracker by International Data Corporation.

However, the share of all smartphones up to US$100 in the entry level segment declined to 15 per cent from 20 per cent a year ago. Xiaomi continued to lead the space, followed by Poco (second) and itel (third).

The average selling price (ASP) of smartphones remained stable at US$263 year-on-year and quarter-on-quarter, ending a string of strong ASP growth over the past several quarters.

Apple stock had record shipments in the first quarter with an ASP of US$953, up 19 percent year-on-year. This continued growth for Apple even after the festive season due to price discounts, special deals on e-tailer platforms and attractive financing options. iPhone 14/15 made up 56 percent of shipments for Apple.

The data highlights that 23 million 5G smartphones were shipped in the quarter. The share of 5G smartphone shipments increased to 69 percent from 46 percent in 1Q23, while 5G smartphone ASP fell to US$337, a decline of 21 percent from 1Q24. Within 5G, large-scale budget shipment (USD 100