Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market

• The Indian smartphone market recorded a 5.6% growth in Q3 2024, with 46 million devices shipped.
• Vivo emerged as the market leader, with a 15.8% market share.
• Apple recorded its highest quarterly shipments in India in Q3 2024.

Indian smartphone shipments recorded a growth of 5.6% in Q3 2024, marking the fifth consecutive quarter to record growth. In Q3 2024, 46 million smartphones were shipped in India.

According to a report by International Data Corporation (IDC), Cupertino tech giant Apple posted its highest quarterly shipments in India at 4 million units, led by iPhone 15 and iPhone 13.

“Growth in the biggest quarter of the year was fueled by attractive discounts, multiple financing options, extended device warranty and cashback/bank offers across both online/offline channels. The launch of several new 5G smartphones also drove demand,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific.

Smartphone Market Share Q3 2024

Company	Q3 2024	Q3 2023
Vivo	15.8%	13.9%
Oppo	13.9%	9.9%
Samsung	12.3%	16.2%
Realme	11.5%	15.1%
Xiaomi	11.4%	11.7%
Apple	8.6%	5.7%
Poco	5.8%	5.7%
Motorola	5.7%	2.4%
iQOO	4.2%	2.2%
OnePlus	3.6%	6.2%
Others	7.2%	11.0%

Source: IDC

Vivo leads the market

Vivo has emerged as the market leader in Q3 2024, with a 15.8% market share, up from a 13.9% market share in Q3 2023. This marks the third consecutive quarter where the smartphone maker has led the Indian smartphone market. Vivo’s shipments have increased by 20% year-on-year.

Oppo is second, with a 13.9% market share in Q3 2024, up from a 9.9% market share in Q3 2023. The company’s shipments have increased by 47.6% year-on-year.

Samsung, which led the Indian smartphone market in Q3 2023 with a market share of 16.2% has been pushed down to the third spot with a 12.3% market share. The company’s shipments have declined by 19.7% year-on-year.

Other notable changes include the increase in Apple’s market share from 5.7% to 8.2%, a decline in OnePlus’ market share from 6.2% to 3.6% and a 149% year-on-year increase in shipments recorded by Motorola.

5G shipments on the rise

The share of 5G shipments increased to 83% in Q3 2024, up from 57% in Q3 2023. Of the 46 million smartphones shipped, 38 million were 5G smartphones.

This has been fueled by the decline in the average selling price (ASP) of 5G smartphones. The ASP has by 20% to $292 (approx. ₹24,650).

“Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India's smartphone market is expected to exit 2024 with a low single-digit annual growth,” said Navkendar Singh, AVP – Devices Research, IDC.

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