India’s smartphone market reaches record value as premium demand soars

• Brands and retailers now prioritise value growth over pure shipment volumes as average selling prices rise by 13%.
• Apple dominates premium market with a 28% value share and enters into India’s top five smartphone brands by shipment volume for the first time.
• Vivo (excluding iQOO) emerges as the leading smartphone brand by volume.

India’s smartphone market posted its highest-ever quarterly value in the July–September period, surging 18 per cent year-on-year (YoY) by value and 5 per cent by volume, according to the latest report from Counterpoint Research.

The robust growth comes amid buoyant festive season demand, aggressive discounting, and a major shift toward premium devices.

Analysts say the sector is evolving quickly, with brands and retailers now prioritising value growth over pure shipment volumes. The average selling price (ASP) climbed 13 per cent YoY in the quarter, driven by consumers’ growing appetite for higher-end models and increasingly attractive upgrade and financing options.

“Better household liquidity and festive optimism supported strong sales during the quarter,” said Prachir Singh, Senior Analyst at Counterpoint Research.

“Softer interest rates and easy financing further fueled upgrade-driven demand, encouraging brands to stock up early and roll out aggressive discounts, especially on older models.”

Rising consumer confidence

The premium smartphone segment—devices priced above Rs30,000—expanded the fastest, growing 29 per cent YoY in shipments. This segment’s momentum was fueled by multiple factors: easing retail inflation, rising consumer confidence, and widespread availability of trade-in and installment plans that made premium offerings more accessible.

Apple dominated the premium market with a 28 per cent value share, bolstered by sustained demand for its iPhone 16 and iPhone 15 series, as well as a strong initial response to the newly launched iPhone 17.

In a significant milestone, Apple also broke into India’s top five smartphone brands by shipment volume for the first time, cementing the country’s position as the world’s third-largest iPhone market. The iPhone 16 was the most shipped device in India for the second consecutive quarter.

Samsung secured a 23 per cent value share in the premium segment, driven by its Galaxy S and A series and record sales of its foldable phones.

Meanwhile, vivo (excluding iQOO) emerged as the leading smartphone brand by volume, capturing a 20 per cent market share thanks to its extensive offline presence and popular T-series models. OPPO (excluding OnePlus) also gained ground with a broader portfolio and strengthened retail partnerships.

Notably, analysts emphasised that enhanced retail networks, flexible financing, and strong brand appeal enabled Apple and other premium brands to reach beyond major cities, tapping into demand from India’s expanding base of technology-savvy consumers.

With India’s smartphone market hitting new highs, the industry is entering an era defined less by sheer shipment volumes and more by value-driven growth and consumer upgrades to premium devices. Brands that continue to innovate in retail, financing, and product design are well positioned to ride the next wave of market expansion.