Smartphone shipment volumes surge in Q1, outlook stays strong

According to market research firms Counterpoint Research and Cybermedia Research (CMR), the Indian smartphone market witnessed an increase in shipment volumes by 8-10% year-on-year during the first quarter of 2024. These market trackers anticipate further growth in the high single-digits for the remainder of the year, attributed to the trend towards premiumization and the adoption of 5G technology.