New Delhi, Feb 4
India’s premium smartphone segment maintained strong double-digit growth in 2024, with Apple making history by securing a top-five position in Q4 2024, according to a CyberMedia Research (CMR) report released on Tuesday.
Apple’s Market Surge
Apple saw an impressive 72% year-on-year (YoY) growth, capturing an 11% market share in Q4. The company dominated the super-premium segment (₹50,000–₹1,00,000), growing by 82% YoY, while the uber-premium segment (₹1,00,000 and above) saw a 32% YoY rise.
Factors Driving Growth
The surge in Apple’s market share was fueled by:
- Aggressive marketing campaigns
- Deep festive discounts
- Strong demand for both new and older iPhone models
Shifting Market Trends
According to Menka Kumari, Senior Analyst at CMR, India’s smartphone market in 2024 reflects a diverse consumer base. While the premium segment is expanding as smartphones become lifestyle symbols, the sub-₹10,000 segment is showing signs of recovery.
Key trends from 2024:
- Affordable segment grew by 1% YoY
- Value-for-money segment declined by 7% YoY, indicating a shift toward premium smartphones
- Sub-₹10,000 5G segment skyrocketed by 80% YoY, driven by new budget-friendly 5G phone launches
As smartphones become more affordable and easier to buy, India’s mobile market is changing. Premium brands like Apple are becoming more popular and growing steadily.
