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<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul><li>Smartphone makers and e-commerce players have come under the scanner of CCI.</li><li>Smartphone makers have been accused of colluding with <keyword id="19904608" type="General" weightage="20" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> and <keyword id="19896939" type="General" weightage="20" keywordseo="Flipkart" source="keywords" meta.keywordsubtype="org" meta.entityname="Flipkart" meta.hostid="261" meta.entityid="Flipkart">Flipkart</keyword>.</li><li><keyword id="23184977" type="General" weightage="20" keywordseo="exclusive-launches" source="keywords">Exclusive launches</keyword> and steep discounting are among the practices being investigated.</li></ul>The <keyword id="19895221" type="General" weightage="20" keywordseo="Competition-Commission-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Competition Commission of India" meta.hostid="261" meta.entityid="Competition Commission of India">Competition Commission of India</keyword> (CCI), the antitrust watchdog in the country has reportedly accused smartphone makers such as <keyword id="19901379" type="General" weightage="100" keywordseo="Xiaomi" source="keywords" meta.keywordsubtype="org" meta.entityname="Xiaomi" meta.hostid="261" meta.entityid="Xiaomi">Xiaomi</keyword> and <keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> of colluding with e-commerce players Amazon and Flipkart. According to a <a href="https://www.reuters.com/world/india/india-accuses-samsung-xiaomi-colluding-with-amazon-flipkart-2024-09-14/">report </a>by Reuters, smartphone makers have been accused of colluding with e-commerce players to launch products on their platforms exclusively. The smartphone makers have also been accused of violating competition laws by giving preference to select sellers, prioritising listings, steeply discounting products and more. <h2>CCI submits report on Amazon and Flipkart</h2>The CCI has reportedly submitted a 1,027-page report on Amazon which has accused Samsung, Xiaomi, OnePlus, Motorola and Realme of being “involved in the practise of exclusive phone launches” and “colluding” with Amazon, breaking competition law. Similarly, the watchdog has submitted a 1,696-page report on Flipkart that has accused Samsung, Xiaomi, Lenovo, Motorola and Vivo of “colluding”. "Exclusivity in business is anathema” CCI's additional director general G.V. Siva Prasad said, as per the report. “Not only is it against free and fair competition but also against the interest of consumers," Prasad added. While the e-commerce giants Amazon and Flipkart reportedly downplayed the practice of launching “exclusive” smartphones, the practice was found to be “rampant” during the investigation. India’s e-commerce market is expected to grow from $57 billion in 2023 to over $160 billion in 2028. Smartphone maker Vivo currently has a market share of 19% in smartphone shipments, followed by Samsung and Xiaomi, which have a combined market share of over 35%. As per a recent <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-records-7-2-growth-in-the-first-half-of-2024-vivo-leads-the-market-in-q2/articleshow/112629172.cms">report</a> by the International Data Corporation, the shipments to online channels grew by 8% year-on-year to reach 50% in Q2 2024, up from 47% in Q2 2023. As per the report, the exclusive launches pushed customers towards these online platforms and harmed small retailers. The investigation stems from a complaint lodged by the Confederation of All India Traders (<keyword id="20143308" type="General" weightage="20" keywordseo="CAIT" source="keywords">CAIT</keyword>) in 2020. The traders body, which has over 80 million members had accused the smartphone makers and e-commerce players of disadvantaging offline retailers and favouring online exclusive launches. We should know more about the investigation and its impact on smartphone makers, e-commerce players and the future of exclusive launches in the coming weeks. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ford-is-returning-to-india-expresses-intent-to-restart-its-tamil-nadu-plant-for-exports/articleshow/113317956.cms">Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports</a> <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Xiaomi and Samsung accused of colluding with Amazon and Flipkart

<ul><li>This year’s initial <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword> has been good for smartphone makers, with an 11% increase in sales.</li><li><keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> has emerged as the biggest smartphone maker in the first phase, followed by <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword>.</li><li>Samsung recorded a 20% market share in the first phase, followed by Apple with a 16% market share.</li></ul>The festive season is here and e-commerce platforms Amazon, Flipkart and others have started their festive sales, offering devices such as smartphones at a discounted price. According to a report by Tech Insights, <keyword id="21017681" type="General" weightage="20" keywordseo="smartphone-sales" source="keywords">smartphone sales</keyword> recorded an 11% growth in the first wave of the festive season sales in India between September 26 to October 6. Among the smartphone makers, Samsung topped the chart with a 20% market share in volume terms during the first phase. "Samsung led the smartphone sales volume with a 20% market share followed by Apple in the first wave of the festive season," Tech Insight said in a blog. Apple is also gaining speed in the Indian market, with over 10 lakh iPhones being sold during the 11-day sale period. The top-selling models for Samsung include the Samsung Galaxy M35, Galaxy S23, Galaxy A14, Galaxy S23 FE and more. "Samsung was also the main sponsor for sales events on Flipkart and Amazon which also gave it an additional push. Samsung sales in unit terms grew 17% year-on-year in 2024's first wave compared to 2023's first wave," the blog said. The platform estimates that online sales volume accounted for 78% of the total sales during the phase 1 period. It was driven by online sales festivals like Big Billion Days on Flipkart and The Great Indian Festival on Amazon India while offline sales started to pick momentum with the start of Navratri. Apple was a surprising second with a 16% market share driven by strong sales of the iPhone 15 which crossed a million mark in 11 days of sales. iPhone 13 followed but the sales gap between iPhone 15 and 13 was significant. Oppo, OnePlus, Xiaomi, and Realme were also among the top vendors in the first wave of the festive season by volume. "North region sales were less compared to other region sales due to the importance of Shradh in this region. Also, states like West Bengal and Gujrat experienced better sales compared to other regions given the preparation for the popular Durga Pooja festival in these states," the blog said. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

Samsung leads the first phase of festive sales with a 20% market share

<ul><li>The <keyword id="20632895" type="General" weightage="100" keywordseo="Indian-smartphone-market" source="keywords">Indian smartphone market</keyword> has reported an 8% year-on-year growth in Q1 2024.</li><li><keyword id="19936542" type="General" weightage="20" keywordseo="Vivo" source="keywords" meta.keywordsubtype="org" meta.entityname="Vivo" meta.hostid="261" meta.entityid="Vivo">Vivo</keyword> has emerged as the top smartphone maker in the country for the first time.</li><li>Over 70% of the smartphones sold in the country in Q1 2024 were 5G enabled.</li></ul>The Indian <keyword id="20284681" type="General" weightage="20" keywordseo="smartphone-market" source="keywords">smartphone market</keyword> reported good growth during Q1 2024, marking a good start to the year for smartphone makers. There was an 8% increase in smartphone shipments in India in Q1 2024. According to a report by Counterpoint Research, the growth was driven by healthy inventory volumes and the low base in Q1 2023. Another reason for the boost in shipments was the premiumisation trend among customers, with the launch of the<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s24-series-with-galaxy-ai-debuts-starting-79999/articleshow/106947200.cms"> Galaxy S24 series</a> and the<a href="https://www.businessinsider.in/tech/news/oneplus-12-with-snapdragon-8-gen-3-chipset-debuts-in-india/articleshow/107090162.cms"> OnePlus 12</a>. <cmsannotation type="cmsannotation" annotationid="Vivo springs a surprise, takes the top spot" comment="subhead" text="Vivo springs a surprise, takes the top spot">Vivo springs a surprise, takes the top spot</cmsannotation> Chinese smartphone maker Vivo has emerged as the top smartphone maker in terms of market share, for the first time ever. The company reported a market share of 19.2% in Q1 2024, up from 17.5% in Q1 2023. According to analysts, the company’s 5G offerings and focus on aspects such as colour, material and finish and focus on the device’s cameras helped the company reach the top spot. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.20% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.50% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.80% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.80% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.50% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.30% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.10% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Realme </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.90% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.10% </td></tr></tbody></table> Source: Counterpoint Research <cmsannotation type="cmsannotation" annotationid="Xiaomi climbs a spot" comment="subhead" text="Xiaomi climbs a spot"><keyword id="19901379" type="General" weightage="20" keywordseo="Xiaomi" source="keywords" meta.keywordsubtype="org" meta.entityname="Xiaomi" meta.hostid="261" meta.entityid="Xiaomi">Xiaomi</keyword> climbs a spot</cmsannotation> Xiaomi reported good growth in shipments in Q1 2024, with a 28% year-on-year growth in shipments. The company’s market share increased from 15.8% in Q1 2023 to 18.8% in Q1 2024. The company was able to take the second spot in shipments due to a leaner and streamlined product portfolio and aggressive selling in the offline market. <cmsannotation type="cmsannotation" annotationid="Samsung reports a decline" comment="subhead" text="Samsung reports a decline"><keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> reports a decline</cmsannotation> Samsung, which was at the top spot in Q1 2023 has been pushed down to the third spot. The company’s market share declined from 20.3% in Q1 2023 to 17.5% in Q1 2024. <cmsannotation type="cmsannotation" annotationid="Oppo and Realme retain their spots" comment="subhead" text="Oppo and Realme retain their spots">Oppo and Realme retain their spots</cmsannotation> Oppo and Realme retained the fourth and fifth spot respectively, despite a decline in Oppo’s shipments. Oppo’s market share declined from 12% in Q1 2023 to 10.1% in Q1 2024. On the other hand, Realme reported an 18% year-on-year growth to increase its market share from 9.1% in Q1 2023 to 9.9% in Q1 2024. This was fueled by the Realme 12 series, which focuses on the design and camera capabilities. <cmsannotation type="cmsannotation" annotationid="Nothing and Motorola report good growth in shipments" comment="subhead" text="Nothing and Motorola report good growth in shipments">Nothing and Motorola report good growth in shipments</cmsannotation> Carl Pei-led Nothing reported the highest year-on-year growth in shipments at 144%, led by the popularity of the Nothing Phone (2a), the company’s latest affordable smartphone. Similarly, Motorola reported a growth of 58% year-on-year in Q1 2024 with customers focusing on smartphones offering good design and a near-stock Android experience. <cmsannotation type="cmsannotation" annotationid="Samsung reports its best-ever ASP, leads the market in terms of value" comment="subhead" text="Samsung reports its best-ever ASP, leads the market in terms of value">Samsung reports its best-ever ASP, leads the market in terms of value</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">22% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr></tbody></table> Source: Counterpoint Research While Samsung has been relegated to the third spot, the company grabbed the top spot in terms of market value share, meaning it received the most money. This was driven by the company recording its best-ever average selling price (ASP) in India at $425 (approx. ₹35,500). The increase in its ASP was due to the Galaxy S24 series and the company’s offerings in the Galaxy A series, which helped the company lead the above ₹20,000 segment. Samsung’s share in market value increased from 23% in Q1 2023 to 25% in Q1 2024. While Apple was not part of the top 5 companies in terms of market share, it is in the second position in terms of market value due to its premium offerings. The company’s market value share in Q1 2024 is 19%, down from 22% in Q1 2023. <cmsannotation type="cmsannotation" annotationid="5G shipments on the rise, offline market the preferred choice" comment="subhead" text="5G shipments on the rise, offline market the preferred choice">5G shipments on the rise, offline market the preferred choice</cmsannotation> The share of <keyword id="20704187" type="General" weightage="20" keywordseo="5G-smartphones" source="keywords">5G smartphones</keyword> in mobile shipments is at an all-time high in Q1 2024, with 71% of the smartphones shipped being 5G smartphones. Despite e-commerce portals like Amazon and Flipkart hosting sales and offering bank discounts, offline markets continue to rule the Indian smartphone market, recording their highest post-Covid share. In Q1 2024, offline markets contributed to 64% of smartphone shipments. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments

New Delhi, Retail giant <keyword id="80487" type="General" weightage="50" keywordseo="walmart" source="Orion">Walmart</keyword> has reportedly paid $1.4 billion to acquire VC form <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>'s remaining shares in the e-commerce major. According to a report in Wall Street Journal, <keyword id="80487" type="General" weightage="50" keywordseo="walmart" source="Orion">Walmart</keyword> has paid the money to boost <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword>'s stake. "Purchase of shares from <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> values the Indian e-commerce company at about $35 billion," the report said late on Sunday. Walmart purchased Tiger Global's remaining holding in <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword> to further cement its control of the Indian e-commerce giant. Tiger Global made an overall gain of $3.5 billion on an investment of $1.2 billion, reports mentioned. Flipkart was earlier valued at $37.6 billion in a 2021 funding round. Walmart had 72 per cent share in Flipkart as reported last. Tiger Global held a 4 per cent stake in the e-commerce leader. Last month, Flipkart began a "one-time discretionary" cash payment of $700 million to employees following its separation from fintech firm PhonePe. In an email to employees, <keyword id="3515858" type="General" weightage="50" keywordseo="flipkart-group" source="Orion">Flipkart Group</keyword> chief executive <keyword id="6379357" type="General" weightage="50" keywordseo="kalyan-krishnamurthy" source="Orion">Kalyan Krishnamurthy</keyword> said, "We have exciting times ahead, and as we continue to grow across businesses, I look forward to your continued dedication and determination to bring about the future that we envision and scale new heights together." The <keyword id="15154047" type="General" weightage="50" keywordseo="phonepe-group" source="Orion">PhonePe Group</keyword> was acquired by the <keyword id="3515858" type="General" weightage="50" keywordseo="flipkart-group" source="Orion">Flipkart Group</keyword> in 2016. The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, <keyword id="7116339" type="General" weightage="50" keywordseo="flipkart-wholesale" source="Orion">Flipkart Wholesale</keyword>, Flipkart Health+ and Cleartrip. Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's digital commerce revolution, with a registered customer base of more than 400 million, offering over 150 million products across over 80 categories. --IANS na/dpb

Walmart buys Tiger Global's residual Flipkart stake for $1.4 billion

Consumer spending in India is soaring during the festive season, with people splurging on cars, smartphones, TVs and other items, boosting the country's economic growth, media reports said. Sales at e-commerce platforms like <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> surged by almost a fifth in the first week of the festive season, compared to the same period last year. Digital payments made via Unified Payments Interface (<keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>) also increased by 40# in October from a year earlier. Economists see easing inflation and rising wages, especially in rural areas. Consumer confidence hit a four-year high in September, according to the latest figures by the central bank, and demand for bank loans is near a 12-year high despite interest rate hikes this year. According to the International Monetary Fund (IMF), India's GDP will grow at the fastest rate among major economies in 2023 and 2024, at 6.3% in both years. Aside from the festive season, the Cricket World Cup and the forthcoming wedding season are likely to boost consumption. Online sales from Amazon, Flipkart and others reached 47 billion rupees ($565 million) in the week through October 15, said the report by the market research firm Redseer Strategy Consultants. High average selling price (ASP) items such as mobiles, electronics and large appliances emerged as the largest contributor to the sales, driving 67# of the total sales, it mentioned. Flipkart Group continued to assert its leadership in week 1 of the festive season sale, further gaining market share over last year's sales to reach 63# in terms of Gross merchandise value (GMV). Amazon, Flipkart, Myntra and others began the festive season sales from October 7 which is expected to reach Rs 90,000 crore worth of online GMV in the festive month -- up 18-20# from last year's festive month sales.

Indians spent big on festive season sales, UPI transaction up 40% in Oct: Report

<ul><li>When exercising your ESOP options, you need to pay for the shares at the exercise price. </li><li>There may be an additional tax burden if the <keyword id="173739" type="General" weightage="20" keywordseo="esops" source="Orion">ESOPs</keyword> are provided at a value lower than the fair <keyword id="6463972" type="General" weightage="20" keywordseo="market-value" source="Orion">market value</keyword> at the time of vesting. </li><li>If the company fails to perform well, or lacks successful liquidity events, the potential returns on ESOPs may remain unrealised. </li></ul>When talking about the glitzy world of start-ups, a discussion on employee stock ownership plan (ESOPs), always comes up. In recent news Swiggy announced that it will buy back shares worth $50 million from employees. Also, Paytm granted 1.7 million new ESOPs to employees. A few weeks ago Flipkart announced a $700 million ESOPs payout. However, the world of ESOPs may not all be as rosy as it seems at first glance. ESOPs work in a certain way and there are a lot of factors which need to fall into place before an employee can make a profit out of them. Therefore, one needs to understand that with start-ups coming under a lot of pressure due to an uncertain economic scenario and a funding crunch, have ESOPs lost their charm? “ ESOPs are often offered to outstanding performers to foster a sense of ownership, and nowadays, start-ups use them as a means to attract and retain top talent. However, it is essential to be aware that some companies might also offer ESOPs to compensate for situations when they cannot offer competitive salaries,’ says Anjali Raghuvanshi, Chief People Officer, Randstad India, a HR consulting firm. What this essentially means is that when taking up a job offer, do note if ESOPs are a part of the salary package as this may come at the cost of foregoing some salary. It is important to understand two major risks associated with ESOPs. Let us take a look. <cmsannotation type="cmsannotation" annotationid="You would need to fork out money upfront" comment="subhead" text="You would need to fork out money upfront">You would need to fork out money upfront</cmsannotation> Here is where owning ESOPs can get tricky. “There are two up-front costs you have to bear when you are exercising your ESOP options. The first cost is the amount you pay the company for those ESOPs,” says BM Singh, ESOP Expert &amp; Managing Partner, BMSA, a consulting firm. Suppose an employee is granted 1,000 ESOP options by a company. The exercise price or strike price of each option is ₹100. This means that the employee can purchase the company's shares at ₹100 per share at a future date, regardless of the market price at that time. Now, let's assume that the market price of the company's shares increases to ₹150 when the employee decides to exercise their ESOP options. To exercise the options, the employee needs to pay the exercise price, which is ₹100 per share. The cost to the employee to exercise their ESOP options would be ₹100,000. <cmsannotation type="cmsannotation" annotationid="Additionally, there may be a tax implication" comment="subhead" text="Additionally, there may be a tax implication">Additionally, there may be a tax implication</cmsannotation> The next is the tax implication that arises here. If the ESOPs are granted at a value lower than the fair market value during vesting, there could be an extra tax burden, resulting in potential tax liabilities before fully realising the value of the ESOPs. “ESOPs are taxable in the hands of the employees as perquisite u/s 17(2) of the IT Act. The taxable amount of such perquisite would be the fair market value (FMV) of the shares (computed in accordance with Rule 3(8) of the IT Act) on the date of exercising such option less any amount paid by the employee for such ESOPs,” says Suresh Surana, Founder, RSM India, an audit, tax and consulting firm. In the above example, the employee would need to pay tax on the taxable amount of ₹50,000 at the applicable tax rate. The exact tax amount will depend on the individual's income tax slab rate. <cmsannotation type="cmsannotation" annotationid="A bigger concern" comment="subhead" text="A bigger concern">A bigger concern</cmsannotation> Poor company performance and uncertainty of liquidity events may render ESOPs worthless. “If the company fails to perform well or lacks successful liquidity events, the potential returns on ESOPs may remain unrealised, potentially impacting the value of the effort and time invested over the years, “ says Raghuvanshi. The value of ESOPs is closely tied to the company's performance and growth potential. If the company's value decreases, it can negatively impact the value of your stock options, potentially making it challenging to sell your shares at a profit. Hence, it is important for an employee to evaluate the future prospects and growth of a company before making a decision to exercise the option. When an employee exercises the options, he should have trust in the company's future growth and performance. “The employee should also be aware about the exit possibilities in case of unlisted shares i.e. buyback track record, funding rounds etc,” says Akhil Chandna, Partner, Tax, Grant Thornton Bharat, a professional services firm. When exercising ESOPs, it is thus essential to conduct a thorough assessment of the company's current performance and financial well-being. This evaluation helps the employee make informed decisions about exercising their options. “Any significant changes since joining could impact the decision,” says Raghuvanshi. <cmsannotation type="cmsannotation" annotationid="Risk of ESOPs are higher in an early stage start-up" comment="subhead" text="Risk of ESOPs are higher in an early stage start-up">Risk of ESOPs are higher in an early stage start-up</cmsannotation> If a start-up is bootstrapped or in the idea phase, the risks are higher. In that case ESOPs are merely paper money. As the different rounds happen, the value of the ESOPs and the probability of liquidity increases. “You should see at which stage of the start-up you are entering. At each phase the value of ESOPs is different. So if you are joining a company just on the basis of ESOPs and not getting a reasonable salary and the company is in its early stages, then you should also focus on the cash component,” says Singh. If it has reached the Series A or Series B funding stage, then you can consider the value of ESOPs when joining and can consider it an important part of your salary package.

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Simply Put: From Dal to Dolce—India is loving its luxury life

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Xiaomi and Samsung accused of colluding with Amazon and Flipkart

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Samsung leads the first phase of festive sales with a 20% market share

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Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments

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Walmart buys Tiger Global's residual Flipkart stake for $1.4 billion

IANS

Indians spent big on festive season sales, UPI transaction up 40% in Oct: Report

IANS

Explained: What accepting ESOPs, especially if joining a start-up, might entail

Anagh Pal

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