Smartphone shipments in India grew 3 percent year-on-year in the third quarter: Counterpoint Research
The number of smartphones sold in India grew 3 percent year-on-year in the July-September (Q3) period in 2024, according to a new report from market research firm Counterpoint. The total value of smartphones grew by 12 percent in the same quarter compared to last year. Samsung continued to lead the smartphone market with a 23 percent market share, while Apple came in a close second, followed by Vivo. Other Chinese smartphone brands claimed the fourth and fifth positions in the list. Festival sales and new launches were decisive for the positive growth in the third quarter.
The Indian smartphone market will reach a record value in the third quarter of 2024
Counterpoint’s Monthly India Smartphone Tracker report reveals that the country’s smartphone volume grew 3 percent year-on-year in the third quarter of 2024, while its value rose an impressive 12 percent year-on-year, hitting a single-quarter record. As in previous quarters, Samsung captured a large share of India’s smartphone shipments and retained its top position in the third quarter with a 23 percent market share. The integration of Galaxy AI features into the mid-range and affordable premium A-series models helped the South Korean brand boost sales.
In terms of smartphone market share, iPhone maker Apple has captured 21.6 percent of the market share thanks to the shipment of the iPhone 15 and iPhone 16 models ahead of the festival season in India. Vivo followed Apple in third position with a market share of 15.5 percent. Vivo’s BBK siblings Oppo and Xiaomi came in fourth and fifth place respectively. Oppo had a market share of 10.8 percent, while Xiaomi got a market share of 8.7 percent.
The report notes that the ongoing premiumization trend has fueled value growth and the earlier start of the festival season has driven volume growth. “The market is increasingly shifting towards value growth, fueled by a premiumization trend, which in turn is supported by aggressive EMI offers and trade-ins,” said Prachir Singh, senior research analyst at Counterpoint.
In terms of volume share, Vivo regained first place with a share of 19 percent, followed by Xiaomi with 17 percent. Samsung, Oppo and Realme came in third, fourth and fifth positions respectively. According to the report, Oppo emerged as the fastest growing brand in the top five.
The Counterpoint report notes that Carl Pei’s Nothing was the fastest-growing smartphone brand for the third consecutive quarter, with 510 percent year-over-year growth in shipments this quarter. The British brand entered the top 10 for the first time this quarter.
Motorola posted 87 percent year-over-year growth in the same quarter. Furthermore, the report states that 5G smartphones achieved their highest ever share of 81 percent of total shipments. In the Rs. 10,001 – Rs. With 15,000 segments, 5G penetration reached 93 percent.
