Smartphone shipments in India to decline in Q2 2024, analysis shows
Smartphone shipments in India declined in the second quarter of 2024 (April-June) despite several brands reporting year-on-year (YoY) growth, according to a report by a market research firm. Xiaomi claimed the top spot in Q2 2024 smartphone shipments on the back of a push by its flagship devices, while Samsung continued its strong performance from the last quarter, leading in terms of overall value, with its ultra-premium segment registering a whopping 99 percent YoY growth.
Smartphone Shipments in India: Q2 2024
According to Counterpoint Research Monthly India Smartphone TrackerXiaomi saw a 23 percent YoY growth in its shipments, from 15 percent in Q1 2023 to 18.9 percent in Q2 2024. The surge helped the Chinese company reclaim the top spot in the Indian smartphone market in terms of units shipped, with improved marketing and expanded distribution being some of the contributing factors.
Smartphone Market Volume Share in Q2 2024
Photo credit: Counterpoint Research
Meanwhile, Samsung led in value terms, with a 1.3 percent increase in the Indian market value. According to the company, the South Korean tech conglomerate is expected to maintain its lead after the launch of its latest flagship foldable smartphones – the Galaxy Z Fold 6 and Flip 6.
In the same criteria, Vivo secured the second spot with a value share of 16.8 percent, while Apple came in third with a share of 16.3 percent. The iPhone maker is expected to make a comeback in the next quarter, with recent price cuts across its iPhone model lineup being touted as a driving factor.
While brands registered growth in terms of value and shipments, total shipments declined by 2 percent YoY. According to the tracker, heat waves, seasonal slump and slower demand compared to the previous quarter could be the culprits for this fall. However, 5G adoption in India is showing consistent growth with 5G smartphones accounting for 77 percent share of total shipments in Q2 2024. Original equipment manufacturers (OEMs) introducing cheaper 5G handsets is tipped to be one of the contributing factors.
Smartphone Market Value in Q2 2024
Photo credit: Counterpoint Research
In terms of trends, Nothing recorded the highest growth in the first half of the year, up 567 percent year-on-year thanks to recently launched products such as Nothing Phone 2a and CMF Phone 1.
The chipset market in India also sees competition between two global tech giants – MediaTek and Qualcomm. While the former led the overall smartphone shipments with a market share of 54 percent, the latter was reported to be the preferred choice in the premium segment, with a share of 33 percent.
