Apple ships record 4 million smartphones in India Q3 2024

Apple has posted its largest-ever quarterly shipment in India, dispatching 4 million units in the third quarter of 2024, amid an expansion of the Indian smartphone market.

The International Data Corporation (IDC) has reported that smartphone shipments in India reached 46 million units in the third quarter of 2024, marking a 5.6% year-over-year growth. A variety of factors, including attractive discounts, multiple financing options, extended device warranties, and cashback offers across various sales channels, contributed to this growth. The introduction of several new 5G smartphones also bolstered demand.

"Growth in the biggest quarter of the year was fueled by attractive discounts, multiple financing options, extended device warranty and cashback/bank offers across both online/offline channels. The launch of several new 5G smartphones also drove demand. One of the biggest draws during the eTailer sales was the attractive discounts on last year's flagship models from Apple and Samsung," said Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific.

In addition to Apple's performance, the overall market saw a slight increase in average selling prices (ASP) for smartphones, which grew 0.9% year-over-year and 3.8% quarter-over-quarter to USD $258. Notably, the entry-premium segment, priced between USD $200 and less than USD $400, showed strong growth, expanding by 42% year-over-year with a 28% share, up from 21% the previous year. OPPO emerged as the leading brand in this segment, while Samsung and Vivo saw their shares decline. Together, these three brands accounted for 53% of the segment.

The premium segment, priced between USD $600 and less than USD $800, experienced the most significant growth, increasing by 86% to a 4% share, up from 2% a year ago. Key models such as the iPhone 15, iPhone 13, Galaxy S23, and OnePlus 12 drove this growth. Apple's share in this segment rose to 71%, while Samsung's share dipped to 19% from 30% the previous year.

The adoption of 5G smartphones gained momentum as 38 million units were shipped during the quarter. The share of 5G smartphone shipments rose to 83% from 57% in the third quarter of 2023, although the ASP for 5G devices fell 20% year-over-year to USD $292. The mass budget segment, priced between USD $100 and less than USD $200, saw its 5G shipments nearly double, capturing a 50% share. Models such as the Xiaomi Redmi 13C, Apple iPhone 15, OPPO K12x, vivo T3x, and Y28 were among the highest-shipped 5G devices.

Online sales channels witnessed an 8% year-over-year growth, with their share rising to 51% in the third quarter of 2024 from 50% a year earlier. Apple became the second-largest brand in this channel, with the iPhone 15 and iPhone 13 leading its sales. Offline channels also grew by 3% year-over-year, as brands offered similarly appealing schemes and offers across all channels.

Vivo maintained its position as the leading brand for the third consecutive quarter, bolstered by its Y series and new T3 and V40 series offerings. OPPO achieved the highest growth among the top five brands, driven by new affordable models such as the A3x, K12x, and Reno 12 series. The company Nothing recorded the highest overall growth, followed by Motorola and iQOO.

Navkendar Singh, AVP Devices Research, IDC, commented, "Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India's smartphone market is expected to exit 2024 with a low single-digit annual growth. For the market to see high growth in 2025, it needs strong momentum in mass and entry-premium segments (US$100<US$400)."

"We should also expect more affordable offerings and high decibel marketing around Gen AI features on smartphones in 2025," Singh said.