Demand for luxury smartphones surges in India: Samsung & Apple lead

A recent report by Counterpoint reveals a growing appetite for high-end smartphones in India, priced at a whopping ₹1 lakh or more.

In the first half of 2024, shipments of these premium devices saw a significant boost. Q1 alone witnessed a 20% year-on-year increase, and Q2 followed with an additional 10% rise.

Though these luxury phones account for just over 1% of the total smartphone market, their popularity is skyrocketing.

With the launch of new models like the Samsung Galaxy Foldables and the latest iPhone series, analysts predict even more growth in the second half of 2024.

Samsung currently dominates this segment with a 73% market share, while Apple holds a solid 26%.

The demand for luxury smartphones is on the rise, and it’s only getting bigger.

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