Team Blitz India
NEW DELHI: India’s smartphone market shipped 34 million smartphones in the first quarter of financial year 2024, with 11.5 per cent growth YoY making it the third consecutive quarter of growth in shipments, said the International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker.
However, the firm expects the overall growth for smartphones to be in mid-single digits for 2024. “The first few months of the year have provided momentum for the smartphone market in India. However, the second half of the year will be crucial. IDC estimates a modest overall annual growth in the mid-single digits for 2024,” says Navkendar Singh, associate vice president, Devices Research, IDC.
Navkendar added that the reasons for the growth to be tepid are the challenges around attracting first-time smartphone users and mitigating the impact of the second-hand market continue to restrict market growth.
“Notably, the market’s concentration among the top brands is weakening, with the long tail of smaller brands and sub-brands gaining volume. The share of the top five brands has dropped to 65 per cent from 69 per cent a year ago,” Navkendar added.
