Indian smartphone market to see 11 percent YoY growth in Q1 2024: IDC
Smartphone shipments in India grew for the third consecutive quarter while the number of 5G-enabled smartphones also saw strong growth, according to a report by a market research firm. Vivo overtook Samsung as the top brand in Q1 2024, while Motorola’s latest affordable smartphones helped it achieve the highest growth among smartphone brands in the same period. iPhone maker Apple grew 19 percent year on year (YoY) in Q1 2024, while Samsung saw its shipments decline despite the launch of new models.
According to International Data Corporation’s (IDC), the number of smartphones shipped in India is expected to cross 34 million in the first quarter of 2024, with the market growing at a rate of 11 percent year-on-year. Global quarterly mobile phone trackerThe report attributes the growth to the launch of new smartphones, increase in promotional activities, sales events and microfinance schemes.
In the first quarter of 2024, Chinese smartphone maker Vivo is said to have overtaken Samsung for the top spot with new models across price segments, while also selling its products through offline retail channels — it held a market share of 16.2 percent. The South Korean brand, on the other hand, saw its shipments decline 13.3 percent year-on-year despite launching new models in the country, according to IDC.
Unlike all other smartphone brands in the top 10 list, Motorola reportedly saw its market share grow 110 percent YoY in Q1 2023 (2.4 percent) to 4.6 percent in Q1 2024, thanks to affordable smartphones. The Lenovo-owned brand, along with Poco and Vivo, accounted for 65 percent of the growth in smartphones shipped through online channels in Q1 2024.
Apple also saw its shipment share rise 19 percent YoY in Q1 2024, with an average selling price of $953 (roughly Rs. 79,600), with the iPhone 15 and iPhone 14 constituting 56 percent of its shipments in India. The market research firm attributed the company’s first-quarter record to discounts on its smartphones, e-commerce deals and financing offers.
| To notice | Market share Q1 2024 | Market share Q1 2023 | Year-on-year (YoY) change |
|---|---|---|---|
| Living | 15.4% | 16.2% | 17.2% |
| Samsung | 20.1% | 15.6% | -13.3% |
| Xiaomi | 12.6% | 12.8% | 13.3% |
| Opposite | 11.6% | 10.2% | -1.8% |
| Realme | 9.3% | 9.8% | 17.3% |
| Apple | 6.8% | 7.3% | 19% |
| Bit | 3.8% | 5.9% | 72.2% |
| OnePlus | 6% | 5.1% | -5.4% |
| Motorola | 2.4% | 4.6% | 110% |
| Technology | 3.4% | 2.9% | -5.7% |
| Others | 8.6% | 9.6% | 25.5% |
| Total | 100% | 100% | 11.5% |
Poco trailed brands like Apple, Realme, Xiaomi and Oppo, but the company had a larger market share than OnePlus, Motorola and Tecno. According to IDC, Poco’s market share in India grew 72.2 percent year-on-year to 5.9 percent.
IDC’s report also highlights broader trends in the smartphone market beyond brand-related metrics. The average selling price of smartphones saw no increase from $263 (roughly Rs. 22,000). Shipments in the mass budget segment increased 22 percent year-on-year, while the entry-level segment declined 14 percent year-on-year.
On the other hand, the entry-premium and mid-premium segments grew and fell by 23 percent and 46 percent respectively. The segment that saw the highest growth was the super-premium segment (44 percent YoY growth), while the premium segment saw its market share decline by 21 percent, according to the report.
“The first few months of the year have given momentum to the smartphone market in India. However, the second half of the year will be crucial. IDC estimates modest overall annual growth in the mid-single digits for 2024,” IDC Associate Vice President (Devices Research) said in a prepared statement.
Earlier this month, a report from Counterpoint Research revealed that the iPhone 15 Pro Max was the company’s best-selling smartphone in the global market in Q1 of 2024. According to the market research firm, four out of the top five most popular smartphones were recent iPhone models, while Apple and Samsung were the only two smartphone brands in the top 10 of smartphones shipped globally in Q1 of 2024.
