India's Premium Smartphone Market Surges 20% In 2017: Report
India’s premium smartphone segment saw over 20 percent growth in 2017 over the previous year, states a Counterpoint research.
The study further highlights that the growth is largely due to the surge of devices from Apple and OnePlus.
While the segment is “more crowded than a year ago”, according to the report, the trio-Apple, OnePlus and Samsung- contribute to 94 percent of the total premium market segment.
The Rs. 10,000-15,000 grew at the fastest pace. The premium smartphone segment- priced Rs 30,000 onwards was the second fastest growing segment by volume accounting for 20 percent growth y-o-y, the report noted.
As per the report, OnePlus was the fastest growing brand with over 343 percent growth in the segment and garnered 25 percent share during the fourth quarter and 19 percent share for 2017.
“It was the second successive quarter for OnePlus to capture the second position in the premium smartphone segment, surpassing Samsung,” it said.
Samsung cornered 8 percent share in the December 2017 quarter.
iPhone X was the top model in the premium segment, capturing one-fifth of shipments, followed by the OnePlus 5T and Samsung Note, the research firm revealed.
“Going forward, we expect the premium segment to continue to grow by more than 20 percent, both in terms of volume and value in 2018, as more brands are likely to enter the segment,” the report stated.
These include OPPO, Vivo and Huawei, with some of the top-selling models in China already in this segment, the report predicts.
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