Average selling price of smartphones in first quarter in India stagnates for first time in three years: Report

The common selling price of smartphone items bought in India stagnated for the first time in three years in Q1 2024, in response to knowledge offered by the International Data Corporation (IDC), India. “Smartphone ASPs (common selling price) remained flat YoY and QoQ at $263, ending the streak of sturdy ASP rise for the final a number of quarters,” the organisation famous in its report on Tuesday.

IDC informed businessline that the ASP of smartphone gadgets had been rising for the previous 12 quarters or the final three years. In Q1 2021, the ASP for a smartphone machine was $176, nevertheless, as newly-moneyed Indians jumped on the bandwagon of premium smartphones, it boosted the common price at which these gadgets had been purchased in the nation. This is whilst fewer Indians are shopping for smartphones in the entry section.

• Also learn: Despite headwinds, Chinese smartphones proceed to dominate India market

Sales of increased finish smartphones declines

What seems to be inflicting stagnation in the first quarter of 2024 is that gross sales of sure increased finish smartphone segments have declined this time round. Upasana Joshi, Senior Research Manager, Client Devices, IDC India stated, “The extremely premium finish and the mass stomach of the market has proven development, whereas the mid-premium and premium finish has declined, and so has the entry-level. Hence the ASP is nearly flat.”

According to the IDC press be aware, “The mid-premium section (US$400

• Also learn: Apple loses high phonemaker spot to Samsung as iPhone shipments drop, report says

Apple led development in the tremendous premium section, which is telephones price $800 or extra. Overall, Apple grew by 19 per cent in Q1 2024.

According to the IDC report, India’s smartphone market shipped 34 million smartphones in 1Q24, with 11.5 per cent development YoY (year-over-year), making it the third consecutive quarter of development in shipments.

“The first few months of the yr have offered momentum for the smartphone market in India. However, the second half of the yr shall be essential. IDC estimates modest general annual development in the mid-single digits for 2024,” Navkendar Singh, Associate Vice-President, Devices Research, IDC, stated.