Samsung leads India's smartphone market with 25% value share in Q2 2024. Its ultra-premium segment (>INR 45,000) has grown 99% YoY due to the Fold 6 series and the premium trend.

New Delhi. According to a Counterpoint Research report, Samsung has confirmed its dominance in the Indian smartphone market by capturing 25% value market share in the quarter ended June 2024. This is the second quarter in a row where Samsung has led the market in terms of value.

Counterpoint Research highlighted the significant impact of Samsung's strategy of focusing on value over volume. According to their statement, Samsung's new Fold 6 series is expected to maintain this leadership, with the ultra-premium segment (priced above INR 45,000) growing by 99% year-on-year in Q2 of 2024.

India's smartphone market reached its highest ever Q2 value due to the ongoing trend of premiumisation. According to Counterpoint, consumers are increasingly upgrading to higher-value smartphones, facilitated by better trade-in values ​​and easier financing plans.

Shubham Singh, research analyst at Counterpoint Research noted, “This has led to 24% YoY growth in the ultra-premium (>INR 45,000) segment.”

The research firm also pointed out that Rs. The 20,000 – 30,000 and Rs 45,000+ price bands saw the fastest growth at 25% and 24% YoY respectively, highlighting the strong demand in these segments.