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Apple overtakes Samsung in India, dominates country’s smartphone market for second consecutive year

Apple overtakes Samsung in India, dominates country's smartphone market for second consecutive year

Apple overtakes Samsung in India and positions itself as a new marker for the country’s smartphone market. IPhone sales jumped past SGD $10.7 billion which is more than the sales of FMCG giants Hindustan Unilever and Nestle in FY24 and even more than the government’s budget for MGNREGA. This marks Apple’s second consecutive year as the market leader, according to IDC India.

Apple, from January to September 2024, shipped a total of $7.96 billion worth of smartphone shipments compared with only $5.23 billion for Samsung. This gap has expanded dramatically and Apple holds 27% of the value market share while Samsung holds 17.7% of the same. This is a significant jump down from 2023, when Apple and Samsung captured 23.5% and 22.5%, respectively.

Analysts ascribe this market hegemony to Apple’s premium pricing, since more than 85% of the total value of shipments go to the above $700 tier, while Samsung, sells mainly sub-$400 products. Apple emerged on the scene in India, by and large, due to this pricing competition, as it changed the nature of the market.

Apple overtakes Samsung in India, iPhone 15 and 13 remain best-selling units

September quarter record iPhone sales to India amounted to four million units. Popular models like the iPhone 15 and iPhone 13 fueled this growth. By the end of the year, it is estimated that more than 12 million units of the device will be shipped to the Indian market, spurred on by financing plans and holiday promotions. Apple overtakes Samsung in India, cementing its position through strong aspirational value and higher resale potential of iPhones compared to Android devices.

In the meantime, Samsung has also encountered difficulties even after the early 2024 introduction of its Galaxy S24 model. Mid-range models like the A, M, and F series underperformed due to rising prices and stiff competition from Chinese brands. Despite big discounts offered on the S23 series, inventory shortages and weak offline sales made a dent in Samsung’s performance. Apple regains the top position from Samsung in India while the latter is finding it difficult to maintain its market position.

According to their expertise in this field, industry professionals predict a single-digit modest growth of India’s smartphone market in 2024, however, Apple’s continued progress may push the share of high-end phones to more than ₹30,000. As Apple increases its market share in India, the premium market segment is expected to achieve a new high of 20% of the market by year-end.

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I'm Ved Prakash, Founder & Editor @Newsblare Media, specialised in Business and Finance niches who writes content for reputed publication such as Investing.com, Stockhouse.com, Motley Fool Singapore, etc. I'm the contributor of different... news sites that have widened my views on the current happenings in the world.

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