04 February 2020
OnePlus has now become the best-selling brand in the premium smartphone segment in India. This is the segment which includes smartphones priced at Rs. 30,000 or higher. It was the launch of OnePlus 7 and OnePlus 7 Pro that helped it get past previous market leaders Samsung and Apple.
As per the latest Counterpoint Research report, OnePlus currently has 43% market share in the premium segment. It is said to be its highest-ever share since its debut in India. If we talk about the ultra-premium segment (Rs. 45,000 or higher), OnePlus entered the segment for the first time this year and has already captured a 26% share. This is because of the OnePlus 7 Pro, the most expensive smartphone released by the brand so far.
Samsung and Apple complete the top three brands with 22% and 20% market share respectively. Samsung was benefitted with the healthy Galaxy S10 lineup sales and Apple received a necessary boost after the iPhone XR price drop. Overall, these three brands account for 85% of the total premium smartphone market. This is a 3% drop from last year which is due to the entry of many other players like Huawei, Honor, and Asus.
As for the premium segment in general, there has been an impressive 33% growth from the last year. The Indian smartphone market is said to be maturing as many buyers are now buying their second or third smartphone. This is the reason they are now going for more expensive devices as compared to opting for entry-level or mid-range phones in the beginning.
In research note, Counterpoint said:
"As Indian smartphone consumers become more mature and are looking to buy their second or third smartphone, the premium segment is becoming a key battle ground to acquire these premium consumers. The new brands to watch out, which could disrupt with premium features with offerings lurking around Rs 30,000 price points, are Xiaomi, OPPO, Vivo, and Asus. They are lowering the barriers for consumers with aggressive flagship-grade offerings."