India’s smartphone shipments grew by 3% on a year-over-year (YoY) basis in the third quarter of 2024 (Q3 2024) with the value surging by a 12% YoY to reach an all-time record for a single quarter, a report has said, adding that the market also registered highest-ever share of 5G phones.
As per the latest research from Counterpoint’s Monthly India Smartphone Tracker, the value growth has been attributed to the ongoing premiumisation trend while the volume growth was driven by the earlier onset of the festive season when compared to 2023.
How smartphone brands performed
Samsung solidified its dominance in the Indian smartphone market, capturing the largest share of revenue in the third quarter of 2024. The Korean electronics giant held a 22.8% share of the market.
“Samsung currently leads the market in terms of value with a 23% share. The brand has been prioritising its flagship Galaxy S series and enhancing its value-driven portfolio," Counterpoint Senior Research Analyst Prachir Singh said.
“The brand has been prioritising its flagship Galaxy S series and enhancing its value-driven portfolio. Samsung is also integrating Galaxy AI features into its mid-range and affordable premium models in the A series, encouraging consumers to upgrade to higher price segments,” he added.
Apple closely followed Samsung at the No. 2 spot with a 22% value share, expanding into smaller cities that drove value growth with an increased focus on newer iPhones. Strong shipments of the iPhone 15 and iPhone 16 ahead of the festive season have further enhanced Apple's performance.
“As consumers increasingly invest in premium smartphones, Apple has cemented its status as the top choice for premium buyers in India, supported by its aspirational image and expanding footprint," the report said.
Vivo , Oppo and Xiaomi captured the third, fourth and fifth spots in terms of value share. However, Vivo led the list when it comes to market volume share. It is followed by Xiaomi, Samsung, Oppo and Realme.
"Vivo maintained healthy inventory levels throughout the year, and this helped it reclaim the top spot in the Indian smartphone market with 26% YoY growth, supported by a diverse product portfolio and the successful expansion of its T series," said Shubham Singh,Counterpoint Research, Research Analyst.
5G phones achieve highest-ever share
During the quarter, 5G smartphones achieved their highest-ever share of 81% in overall shipments, with the 5G penetration reaching 93% in the Rs 10,001-15,000 segment with brands focusing on introducing 5G models in the budget segment.
As per the latest research from Counterpoint’s Monthly India Smartphone Tracker, the value growth has been attributed to the ongoing premiumisation trend while the volume growth was driven by the earlier onset of the festive season when compared to 2023.
How smartphone brands performed
Samsung solidified its dominance in the Indian smartphone market, capturing the largest share of revenue in the third quarter of 2024. The Korean electronics giant held a 22.8% share of the market.
“Samsung currently leads the market in terms of value with a 23% share. The brand has been prioritising its flagship Galaxy S series and enhancing its value-driven portfolio," Counterpoint Senior Research Analyst Prachir Singh said.
“The brand has been prioritising its flagship Galaxy S series and enhancing its value-driven portfolio. Samsung is also integrating Galaxy AI features into its mid-range and affordable premium models in the A series, encouraging consumers to upgrade to higher price segments,” he added.
Apple closely followed Samsung at the No. 2 spot with a 22% value share, expanding into smaller cities that drove value growth with an increased focus on newer iPhones. Strong shipments of the iPhone 15 and iPhone 16 ahead of the festive season have further enhanced Apple's performance.
“As consumers increasingly invest in premium smartphones, Apple has cemented its status as the top choice for premium buyers in India, supported by its aspirational image and expanding footprint," the report said.
Vivo , Oppo and Xiaomi captured the third, fourth and fifth spots in terms of value share. However, Vivo led the list when it comes to market volume share. It is followed by Xiaomi, Samsung, Oppo and Realme.
"Vivo maintained healthy inventory levels throughout the year, and this helped it reclaim the top spot in the Indian smartphone market with 26% YoY growth, supported by a diverse product portfolio and the successful expansion of its T series," said Shubham Singh,Counterpoint Research, Research Analyst.
5G phones achieve highest-ever share
During the quarter, 5G smartphones achieved their highest-ever share of 81% in overall shipments, with the 5G penetration reaching 93% in the Rs 10,001-15,000 segment with brands focusing on introducing 5G models in the budget segment.
You may also like
Under-construction bullet train bridge collapses in Gujarat's Anand, rescue operations under way
MP: PMAY beneficiaries in Harda district thank Modi govt for pucca houses
If Harris beats anti-abortionist Trump, it's because America's wives secretly voted for her
'I found a £130 alternative to the £1.2k houndstooth trench from Kate Middleton's go-to brand'
Prashanth Neel Says Sorry To Shah Rukh Khan & Rajkumar Hirani For Salaar-Dunki Clash
