The Sri Lankan smartphone market witnessed impressive growth in Q2 2024, with shipments totaling 365,000 units, representing a staggering 218% year-on-year increase. This marks the fifth consecutive quarter of triple-digit growth trends and indicates a surge in demand for mobile technology in the country, IDC said.
market leader
Honor, ZTE, Samsung, Transsion and Xiaomi will be the smartphone leaders in Sri Lanka in Q2 2024.
Transsion continues to lead the ultra-low-end segment, while Samsung has emerged as the front-runner in the low-end segment. Honor dominated the mid-range segment, gaining a significant market share of 21%. This is mainly due to the success of the X7b which became the most shipped model in Sri Lanka. ZTE tied for second place with Samsung, with its Blade A34, V60, and Neo 2 models leading in sales, while Samsung’s Galaxy A05 continued to be a popular choice among consumers.
Introduction of 5G
The report also highlights the growing interest in 5G smartphones, accounting for 25% of total smartphone shipments in Q2 2024, a notable increase from previous quarters. Dialog Axiata solidified its position as Sri Lanka’s largest telecommunications provider following its 100% acquisition of Airtel and 74% acquisition of Sri Lankan Telecom. The company is aggressively expanding its 5G coverage and offering affordable 5G plans to attract a broader customer base.
retail dynamics
The market continues to be heavily dominated by the retail channel, which accounts for a staggering 98% of sales. Consumers prefer to see and experience a device before purchasing, and this trend is driven by the ease of access to multi-brand outlets and the expansion of large chain stores with national distributors across Sri Lanka. It is promoted.
