5 Min Read
This has been a breakthrough year for the Indian smartphone market, with the price-value proposition skyrocketing. 2024 has shown us that there is something for everyone, no matter your budget or brand preference. Be it budget/entry-level smartphones, mid-range, mid-premium, premium or ultra-premium, the market is chock-full of excellent options.
Of course, it doesn't hurt that a handful of companies sell smartphones in every price bracket, and it just so happens that one of those companies has re-energised its efforts in 2024 to capture a healthy chunk of the Indian market — OPPO.
The brand says it is doubling down on its commitment to India, with the most recent example being its re-entry into the premium and ultra-premium segments with the OPPO Find X8 series.
In an interview with CNBC-TV18, Peter Dohyung Lee, Head of Product Strategy at OPPO, says India is a priority market for them, and that what we've seen this year is a payoff of the work OPPO has poured into India over the past decade.
Counterpoint research estimates that, in the third quarter of 2024, India's smartphone market grew 3% year-on-year in terms of volume and 12% in terms of market value. Counterpoint attributes this growth to the trend of premiumisation.
According to CyberMedia Research (CMR), in the same quarter, 5G smartphone shipments grew by an impressive 82% sequentially, and nearly 50% YoY. CMR also notes that the ₹10,000-₹13,000 bracket grew by roughly 100% YoY.
Premiumisation, on the face of it, implies that the focus is on higher-end expensive smartphones.
Not so.
Xiaomi summed it up the best when, while unveiling its strategy for the next few years earlier this year, it said premiumisation is basically ensuring users get a premium experience no matter how much they pay for a smartphone.
OPPO wasn't too far behind in noticing this trend, and the return of the Find X series to India after a gap of four years, is, according to Lee, the company's effort to cater to this trend.
"We witnessed a growing preference for premium phones among Indian customers, especially from Tier II and Tier III cities, and we have introduced our flagship, Find X8 Series, in India to cater to this growing demand," Lee explains.
Lee says OPPO's focus on "tech innovation, insight-based product strategy, and strong after-sales" has paid off, with the International Data Corporation's analysis of the third quarter pegging OPPO at the second spot in terms of market share, with 13.9%, ahead of established or aspirational brands like Samsung and Apple.
"I see a host of opportunities in India as it is one of the fastest-growing smartphone markets in the world," Lee says.
Per Lee, India's growing user base, 5G adoption, premiumisation and AI feature rollout, paired a rapid growth in content consumption across OTT platforms, social media, and mobile gaming, has sparked a demand for devices with standout displays, performance and, most importantly, batteries.
This year, we have seen smartphone manufacturers finally breach the 5,000mAh battery capacity norm, with most smartphones featuring an average of 5,500mAh. This is thanks to the widening adoption of silicon-carbon or silicon-carbide battery technologies, which allow companies to make smaller, denser batteries that can last a long time, "ensuring rapid charging and long-lasting battery life".
"...we introduce tech solutions based on the specific needs of different markets. The product team in India regularly conducts ... market research to obtain insights on market demand and user pain points, and accordingly, we bring customised solutions here," Lee says.
2024 was also the year that saw increased awareness of the importance of sustainability practices in manufacturing tech products.
Lee says OPPO's mantra is '3R+1D' — "Reduce, Reuse, Recycle, and Degradable—in our product packaging and design".
Furthermore, OPPO India has launched the Generation Green campaign, aimed at promoting awareness about e-waste management. "It’s fascinating to see that over eight lakh students have already come forward to take the Green Pledge," Lee adds.
As to the road ahead, Lee teased that many features that are on the current X8 flagships will make it to its smartphones downstream, with the company aiming to bring generative AI features to 50 million OPPO users worldwide.
"We are focused on making AI-driven smartphones accessible to all and aim to take generative AI features to 50 million OPPO users worldwide this year. The OPPO AI Center, established in 2024, plays a crucial role in this vision and we have already filed over 5800 AI-related patents," Lee says.
Of course, it doesn't hurt that a handful of companies sell smartphones in every price bracket, and it just so happens that one of those companies has re-energised its efforts in 2024 to capture a healthy chunk of the Indian market — OPPO.
The brand says it is doubling down on its commitment to India, with the most recent example being its re-entry into the premium and ultra-premium segments with the OPPO Find X8 series.
In an interview with CNBC-TV18, Peter Dohyung Lee, Head of Product Strategy at OPPO, says India is a priority market for them, and that what we've seen this year is a payoff of the work OPPO has poured into India over the past decade.
"The country has over a billion mobile phone users, and the penetration of smartphones, especially across smaller towns, has grown significantly. The big leap has come with AI and India’s young population is driving rapid adoption by using smartphones for communication, shopping, entertainment, productivity, financial transactions, and much more," Lee said.
Counterpoint research estimates that, in the third quarter of 2024, India's smartphone market grew 3% year-on-year in terms of volume and 12% in terms of market value. Counterpoint attributes this growth to the trend of premiumisation.
According to CyberMedia Research (CMR), in the same quarter, 5G smartphone shipments grew by an impressive 82% sequentially, and nearly 50% YoY. CMR also notes that the ₹10,000-₹13,000 bracket grew by roughly 100% YoY.
Premiumisation, on the face of it, implies that the focus is on higher-end expensive smartphones.
Not so.
Xiaomi summed it up the best when, while unveiling its strategy for the next few years earlier this year, it said premiumisation is basically ensuring users get a premium experience no matter how much they pay for a smartphone.
OPPO wasn't too far behind in noticing this trend, and the return of the Find X series to India after a gap of four years, is, according to Lee, the company's effort to cater to this trend.
"We witnessed a growing preference for premium phones among Indian customers, especially from Tier II and Tier III cities, and we have introduced our flagship, Find X8 Series, in India to cater to this growing demand," Lee explains.
Lee says OPPO's focus on "tech innovation, insight-based product strategy, and strong after-sales" has paid off, with the International Data Corporation's analysis of the third quarter pegging OPPO at the second spot in terms of market share, with 13.9%, ahead of established or aspirational brands like Samsung and Apple.
"I see a host of opportunities in India as it is one of the fastest-growing smartphone markets in the world," Lee says.
Per Lee, India's growing user base, 5G adoption, premiumisation and AI feature rollout, paired a rapid growth in content consumption across OTT platforms, social media, and mobile gaming, has sparked a demand for devices with standout displays, performance and, most importantly, batteries.
This year, we have seen smartphone manufacturers finally breach the 5,000mAh battery capacity norm, with most smartphones featuring an average of 5,500mAh. This is thanks to the widening adoption of silicon-carbon or silicon-carbide battery technologies, which allow companies to make smaller, denser batteries that can last a long time, "ensuring rapid charging and long-lasting battery life".
"...we introduce tech solutions based on the specific needs of different markets. The product team in India regularly conducts ... market research to obtain insights on market demand and user pain points, and accordingly, we bring customised solutions here," Lee says.
2024 was also the year that saw increased awareness of the importance of sustainability practices in manufacturing tech products.
Lee says OPPO's mantra is '3R+1D' — "Reduce, Reuse, Recycle, and Degradable—in our product packaging and design".
Furthermore, OPPO India has launched the Generation Green campaign, aimed at promoting awareness about e-waste management. "It’s fascinating to see that over eight lakh students have already come forward to take the Green Pledge," Lee adds.
As to the road ahead, Lee teased that many features that are on the current X8 flagships will make it to its smartphones downstream, with the company aiming to bring generative AI features to 50 million OPPO users worldwide.
"We are focused on making AI-driven smartphones accessible to all and aim to take generative AI features to 50 million OPPO users worldwide this year. The OPPO AI Center, established in 2024, plays a crucial role in this vision and we have already filed over 5800 AI-related patents," Lee says.
First Published: Dec 13, 2024 4:15 PM IST
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