Samsung has strengthened its position as the leading smartphone brand in India, securing a 25 percent value market share for the quarter ending June 2024, according to Counterpoint Research. This marks the second consecutive quarter that Samsung has led in value terms.
Focus on value over volume
Counterpoint Research highlighted that Samsung’s new Galaxy Z Fold 6 and Z Flip 6 are expected to maintain this leadership. The brand’s focus on value over volume has significantly impacted its ultra-premium segment (priced above Rs 45,000), which saw a 99 percent year-on-year growth in Q2 2024.
India’s smartphone market achieved its highest-ever Q2 value, driven by a trend towards premiumization. Consumers have been upgrading to higher-value smartphones, aided by better trade-in values and accessible financing schemes, according to Counterpoint. This trend resulted in a 24 percent year-on-year growth in the ultra-premium segment.
Shubham Singh, a Research Analyst with Counterpoint Research, noted, “The Rs 20,000 to 30,000 and Rs 45,000+ price bands saw the fastest growth at 25 percent and 24 percent year-on-year, respectively.”
Samsung’s continued emphasis on high-value products and consumer preferences for premium smartphones have played crucial roles in its sustained leadership in the Indian market.
Samsung introduced the Galaxy AI on the Galaxy S24 series at the beginning of this year. The Galaxy AI available on the recently announced Galaxy Z Fold 6 and Z Flip 6 offers enhanced AI features. Both foldables also come with the promise of seven years of Android OS upgrades and seven years of security updates. In the remaining months of this year, the brand is expected to announce a couple of other devices, including the Galaxy Tab S10 series and the Galaxy A16. The much-anticipated Galaxy S25 lineup is expected to debut in January 2025.
Comments