Indians are now buying phones worth lakhs leaving behind the 10-20 thousand rupees deal, the demand for these phones has increased a lot

New Delhi. After budget phones, now people are seeing a craze for premium phones. Industry experts said on Tuesday that luxury smartphone sales have increased in the country in recent quarters. According to Counterpoint Research, shipments of smartphones priced at Rs 1 lakh and above grew by 20% in the first quarter of the current calendar year and 10% in the second quarter on a year-on-year basis. The market share of the Rs 1 lakh and above segment has been a little over one percent in the first half of this year.

“This share is expected to grow marginally in the second half driven by Samsung Galaxy foldables and future devices in the new Apple iPhone series,” said Tarun Pathak, director at Counterpoint Research.

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He further said that in 2021, the sale of luxury or super-premium smartphones in the country had increased by 14 percent. Next year in 2022, it increased by 96 percent and in 2023 by 53 percent. Then in the year 2023, Samsung captured 52 percent share in the super-premium smartphone market, while Apple’s share was 46 percent.

According to Prabhu Ram, Vice President-Industry Research Group, Cyber ​​Media Research (CMR), the wave of premiumization is continuously getting stronger in the Indian smartphone market.

He further added, ‘Users are now preferring smartphone devices that not only come with better specifications and features but also serve as a lifestyle statement.’

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According to him, in the first half, uber-premium smartphones priced at Rs 1 lakh and above have seen a growth of 80 percent year-on-year in the country. In the April-June quarter, Samsung dominated the market with a 25 percent share in terms of value, followed by Vivo and Apple.

However, Apple is expected to revive its growth in the next quarter due to the recent price cuts across the entire iPhone range. In the second quarter of this year, the market share of 5G smartphones in India stood at a record 77 per cent, mainly due to their declining average selling price (ASP).

Tags: mobile phone