India’s premium smartphone market is gearing up for a big festive boost, with sales expected to jump 18% year-on-year and the market value rising by 24%, according to a fresh report from CyberMedia Research (CMR).
In the super-premium category—phones priced between Rs 50,000 and Rs 1 lakh—growth is projected at 15% compared to last year. But the real excitement is in the uber-premium segment (Rs 1 lakh and above), where sales could skyrocket by 167%, thanks to huge demand for the newest flagship models like high-end Android smartphones and iPhones.
Prabhu Ram, VP of CMR’s Industry Research Group, explains that aspirational buyers, Gen Z, and millennials are driving this trend. These folks want powerful devices that fit their fast-paced digital lives, from gaming to AI features. “More people can now afford premium smartphones thanks to better accessibility,” Ram says. “Brands focusing on top performance, sleek designs, and on-device AI will win big in the Android market.”
When it comes to what makes a smartphone stand out, premium chipsets like Qualcomm’s Snapdragon are stealing the show. They power seamless multitasking, immersive gaming, pro-level cameras, and even cutting-edge AI experiences. In July 2024, Snapdragon-powered premium Android phones grabbed a whopping 40% market share, solidifying their lead.
Market leaders? Samsung held 28%, Apple 23%, and OPPO 11% in the premium segment that month. Apple looks set for a stellar festive season, riding high on the upcoming iPhone 17 series launch and steady interest in older iPhones as easy entry points to their ecosystem.
A survey in the report shows 85% of consumers plan to upgrade their smartphones during the festive period. Top priorities include strong performance (89%), gaming capabilities (85%), and future-proofing for generative AI (45%). Interestingly, over 25% of buyers rank the chipset’s performance above cameras, displays, or battery life—it’s becoming the heart of the smartphone.
Menka Kumari, senior analyst at CMR’s Industry Intelligence Group, adds a note of caution: “We’re optimistic about premium smartphone demand heating up for the festive season and beyond, but overall market growth might stay modest due to challenges. Still, fierce competition will spark more innovation and give you plenty of choices.”
If you’re eyeing a new premium smartphone this Diwali, now’s the time to watch for deals on flagships with Snapdragon or Apple silicon. What are you waiting for?
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