Indian smartphone market records 7.2% growth in the first half of 2024, Vivo leads the market in Q2

• The Indian smartphone market recorded a 7.2% growth in the first six months of 2024.
• There was a 3.2% year-on-year growth in shipments in Q2 2024, with Vivo leading the market.
• Online channels now command a market share of 50%, the highest ever.

The Indian smartphone market recorded a 7.2% year-on-year growth in shipments in the first half of 2024, with 69 million smartphones shipped during the first six months.

According to a report by the International Data Corporation (IDC), Q2 2024 emerged as the fourth consecutive quarter to record growth in shipments. In Q2 2024, 35 million smartphones were shipped in the country, recording a 3.2% year-on-year growth.

“The latter half of Q2 is a prelude to the crucial second half of the year with the festive sale period going up till November. Apart from old inventory clearance in the first half of the quarter, vendors also started to launch new smartphones, especially in the mid-premium/premium segment from mid-quarter onwards, for monsoon sales in July and August,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC India.

Vivo leads the market


Source: IDC

Vivo continued to lead the Indian smartphone market for the second quarter, with a market share of 16.5% in Q2 2024, up from 16% in Q2 2023.

Xiaomi took the second position, with a market share of 13.5%, up from 11% in Q2 2023.

Samsung took a big hit in Q2 2024, with its market share declining from 15.7% in Q2 2023 to 12.9% in Q2 2024.

5G smartphones

The share of 5G smartphones in the overall smartphone shipments increased to 77% in Q2 2024, with 27 million 5G smartphones shipped during the quarter. In Q2 2023, the share of 5G smartphones in shipments was just 49%.

The average selling price (ASP) of 5G smartphones has decreased to $293.

The shipments to online channels grew by 8% year-on-year to reach 50% in Q2 2024, up from 47% in Q2 2023. Due to severe heatwave conditions in several parts of India, offline channel shipments declined by 2% year-on-year in Q2 2024.

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