According to market research firm Counterpoint Research, global smartphone shipments grew 11 percent in Q1 2017 as compared to a two percent decline in the same period last year. While a total of 375 million smartphone units were shipped in the first quarter.
The report says that the smartphone penetration reached over 80 percent of the mobile phones shipped in the quarter, with top 10 contributing to almost 73 percent of the smartphone volumes.
"The 'affordable premium' segment - $300 - $399 (roughly Rs. 20,000 - Rs. 25,600)- was the fastest growing smartphone segment during the quarter mainly driven by Oppo, Vivo, and Samsung A series smartphones," the report noted.
It also pointed out that the 'affordable premium' segment $300~$399 was the fastest growing smartphone segment during the quarter mainly driven by OPPO, vivo, and Samsung A series smartphones.
The report further added the $100~$199 price segment has quickly become the sweet spot across the pre-paid developed and emerging markets and this segment accounts for one in three smartphones shipped globally, registering a healthy 28.8 percent growth in Q1 2017.
This price segment is mainly driven by Samsung's J series, Huawei's Honor series, OPPO's A series and Xiaomi's Redmi series smartphones.
Meanwhile due to softness in iPhone volumes and controlled inventory of the Samsung flagship Galaxy S7/S7+ ahead of Galaxy S8 series launch. The premium segment declined annually and accounted for almost 20 percent of the global smartphone market.