India's smartphone market sees flat growth in September quarter

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₹21,000, with 5% on-quarter and 12% on-year growth in the quarter ended September. This would mean better revenues for brands as prices rise. Vendors focused on affordable 5G devices and discounts across the channels driving down the ASP for 5G phones to about ₹30,000.

Lower prices for 5G phones will lead to higher sales of the new technology phones compared to 4G devices. Share of 5G phones in the under ₹17,000 segment, called budget segment, increased to 52% from 34% a quarter ago. “5G smartphone shipments reached a record 58% share with 25 million units in the quarter.

5G ASP dropped to US$357 in 3Q23, a decline of 9% YoY. Samsung’s Galaxy A14, Apple’s iPhone 13, and Xiaomi’s Redmi 12 were the highest shipped 5G models in the quarter," the research firm said. Premium segment – between ₹49,000 and ₹65,000 - at 3% share, registered the highest growth of 52%, led by iPhone 13, Galaxy S23/S23 FE and the newly launched Moto Razr 40.

Super-premium segment, upwards of ₹65,000 registered a healthy 43% growth, with its share up from 4% to 6% in 3Q23. “Apple led this segment, with 60% share, with high shipments of its iPhone13/14/14 Plus. Samsung too gained share, from 24% to 36% in 3Q23, coming from the newly launched Galaxy Z Fold5/Flip5 and Galaxy S23+/S23 Ultra," IDC said.