- The
Indian smartphone shipments recorded a 3% growth in Q3 2024 ahead of the festive season. - Vivo has emerged as the top smartphone maker in terms of market share, while Samsung leads in value.
- The share of 5G smartphones in overall shipments has crossed 80%.
According to a report by Counterpoint Research, while the shipments have only increased by 3%, the value has recorded a 12% year-on-year growth to reach an all-time record for a single quarter.
“The market is increasingly shifting toward value growth, fueled by a premiumisation trend, which, in turn, is supported by aggressive EMI offers and trade-ins,” said Prachir Singh, senior research analyst, Counterpoint Research.
The increase in the value of smartphones is being driven by a trend of premiumisation, with Indian consumers moving towards premium smartphones, something which has been happening for the last few quarters.
Indian smartphone market share Q3
Source: Counterpoint Research
After emerging as a close second during Q2 2024, Vivo has now emerged as the top smartphone maker in Q3 2024, recording a 19.4 market share, up from 15.9% in Q3 2023.
Xiaomi’s market share has remained flat and it continues to occupy the second position with a 16.7% market share in Q3 2024, up from 16.6% in Q3 2023.
Samsung has recorded a decline in its market share, reporting a 15.8% market share in Q3 2024, down from 17.2% recorded in Q3 2023.
Oppo holds the fourth spot, with a significant increase in market share, from 9.8% in Q3 2023 to 13.4% in Q3 2024.
Realme has recorded a decline, with its market share decreasing from 14.4% in Q3 2023 to 11.3% in Q3 2024.
Smartphone market value share
Source: Counterpoint Research
Samsung has emerged as the leader when it comes to market value, recording a 22.8% share, up from a 22.6% share in Q3 2023.
“Samsung currently leads the market in terms of value with a 23% share. The brand has been prioritizing 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,” Singh said.
Apple has emerged second, with a 21.6% share in market value, down from 21.8% in Q3 2023. “The brand has aggressively expanded into smaller cities, driving significant 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, Singh added.
5G smartphones record new high
5G smartphones have achieved a new record in share at 81% of overall shipments in Q3 2024. This has been driven by the reduction in the average selling prices (ASPs) of 5G smartphones.SEE ALSO:
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