According to CounterPoint Research’s data, global sales of budget smartphones have started growing after Q2 of 2024 and have now grown up to 10% YoY with 100 million units surpassed. This growth of budget smartphones is responsible for making up 37% of global smartphone sales in Q2 of 2024. One of the biggest reasons for the growth of budget smartphones was emerging markets which were three-fourth of total sales volume.
Another reason why budget smartphones are growing rapidly in the market is because OEMs are integrating smartphone features of high-end brands into affordable or budget smartphones. It shows that the smartphone industry is slowly going towards maturity. The budget smartphones grew 21% from Q2 2023 to Q2 2024. Right now in Q2 2024, there are just 1500 active budget smartphone brands. This number is almost half of budget smartphones that were active in 2018. This shows that many consumers prefer recognized brands over budget smartphones. The market is also preferring them.
In Q2 2024, the top ten budget smartphone spots were taken by Xiaomi, Samsung and OPPO. Only one spot in the top ten was taken by Techno. The budget smartphone which was on the top was Xiaomi Redmi 13CC 4G, followed by Samsung Galaxy A05 and Samsung Galaxy A15 4G. All of these models have great features that make consumers drawn towards them.
Budget smartphones are slowly shifting to 5G from 4G, with 24% of the devices sold being 5G in Q2 2024. India and China are pushing the growth of 5G budget smartphones. As 5G will become more affordable, sales of sub-$150 will also grow. Xiaomi Redmi 13C 5G was a notable release in this category with competitive specifications, good camera quality and battery sizes.
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Another reason why budget smartphones are growing rapidly in the market is because OEMs are integrating smartphone features of high-end brands into affordable or budget smartphones. It shows that the smartphone industry is slowly going towards maturity. The budget smartphones grew 21% from Q2 2023 to Q2 2024. Right now in Q2 2024, there are just 1500 active budget smartphone brands. This number is almost half of budget smartphones that were active in 2018. This shows that many consumers prefer recognized brands over budget smartphones. The market is also preferring them.
In Q2 2024, the top ten budget smartphone spots were taken by Xiaomi, Samsung and OPPO. Only one spot in the top ten was taken by Techno. The budget smartphone which was on the top was Xiaomi Redmi 13CC 4G, followed by Samsung Galaxy A05 and Samsung Galaxy A15 4G. All of these models have great features that make consumers drawn towards them.
Budget smartphones are slowly shifting to 5G from 4G, with 24% of the devices sold being 5G in Q2 2024. India and China are pushing the growth of 5G budget smartphones. As 5G will become more affordable, sales of sub-$150 will also grow. Xiaomi Redmi 13C 5G was a notable release in this category with competitive specifications, good camera quality and battery sizes.
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