Sri Lanka’s smartphone market experienced remarkable growth in the second quarter of 2024, with shipments totaling 365,000 units, reflecting an astonishing 218 percent year-on-year increase. This marks a triple-digit growth trend that has persisted for five consecutive quarters, showcasing the burgeoning demand for mobile technology in the country, IDC said.
Sri Lanka has 32.49 million cellular mobile connections. Sri Lanka has 12.34 million internet users, which is 56.3 percent of the population.
Market Leaders
Honor, ZTE, Samsung, Transsion and Xiaomi are the smartphone leaders in Sri Lanka during the second-quarter of 2024.
Transsion continued to lead the ultra-low-end segment, while Samsung emerged as the frontrunner in the low-end segment. Honor dominated the mid-range segment, capturing a significant 21 percent market share, largely attributed to the success of the X7b, which became the highest-shipped model in Sri Lanka. ZTE tied with Samsung for the second position, with its Blade A34, V60, and Neo 2 models leading sales, while Samsung’s Galaxy A05 remained a popular choice among consumers.
5G Adoption
The report also highlighted a growing interest in 5G smartphones, which accounted for 25 percent of total smartphone shipments in Q2 2024, a notable increase from previous quarters. Dialog Axiata has solidified its position as the largest telecommunications provider in Sri Lanka following a 100 percent acquisition of Airtel and a 74 percent acquisition of Sri Lankan Telecom. The company is actively 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 retail channels, which account for a staggering 98 percent of sales. Consumers prefer to see and experience devices before purchasing, a trend facilitated by the easy accessibility of multi-brand outlets and the expansion of large chain stores by national distributors across Sri Lanka.
