Sale of smartphones worth Rs 1 lakh and above surge in India [Video]

With disposable incomes rising amid the premiumisation trend, the sales of luxury smartphones have surged in India in recent quarters, industry experts said on Tuesday.

The smartphone shipments of Rs 1 lakh and above increased by 20 per cent (year-on-year) and 10 per cent (YoY) for Q1 2024 and Q2 2024, respectively, according to Counterpoint Research.

The shipments in the Rs 1 lakh and above segment accounted for just over 1 per cent of the market in the first half this year.

“This share is expected to increase slightly in the second half of the year with the arrival of Samsung Galaxy Foldables and the new Apple iPhone series,” Tarun Pathak, Director, Counterpoint Research, told IANS.

In 2021, luxury or super-premium smartphones saw 14 per cent growth (YoY) in the country. In 2022, this growth surged to 96 per cent and in 2023, it was 53 per cent.

Samsung led the super-premium smartphone …