Highlights

CounterPoint report reveals a growing appetite for smartphones above ₹1 lakh in India
For just over 1% of the total smartphone market, their popularity is skyrocketing
Samsung has 73% market share, while Apple holds a solid 26%

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

Name: Demand for luxury smartphones surges in India: Samsung & Apple lead
Uploaded: 2024-09-04T15:43:50.000+05:30
Duration: T00M57S
Channel: Editorji News Desk
Description: Luxury smartphone shipments worth ₹1 lakh surged by 20% in Q1 and 10% in Q2 of 2024, according to Counterpoint. Samsung and Apple dominate this niche market with shares of 73% and 26%, respectively, as demand for premium device...

Luxury smartphone shipments worth ₹1 lakh surged by 20% in Q1 and 10% in Q2 of 2024, according to Counterpoint. Samsung and Apple dominate this niche market with shares of 73% and 26%, respectively, as demand for premium devices continues to rise.

Updated: Sep 02, 2022 10:53

Editorji News Desk

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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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