Xiaomi reclaims top position as smartphone manufacturer in India in Q2 2024: Canalys
Smartphone shipments in India grew by just 1 percent in the second quarter (April-June) of 2024 on a year-on-year (YoY) basis, according to a report by a technology market analyst firm. The report suggests that the modest growth was a result of a number of different factors, including national elections, lower seasonal demand and extreme weather conditions in some areas. Among the top brands with the largest market share in the quarter were Xiaomi and Vivo. Notably, estimates for Xiaomi in this report include data from the company’s sub-brand Poco, while estimates for Oppo exclude OnePlus.
Indian Smartphone Market Growth in Q2 2024
a report Market analyst firm Canalys claims that the total number of smartphone shipments in India stood at 36.4 million in Q2 2024, slightly higher than the 36.1 million units shipped in Q2 2023. The report shows that Xiaomi and Vivo shipped 6.7 million units each and had an 18 percent market share each.
Samsung followed closely with 17 percent and 6.1 million units sold, while Realme and Oppo each sold 4.3 million and 4.2 million units, with 12 and 11 percent market share respectively.
The Redmi Note 13 Pro series and the Xiaomi 14 Civi contributed to the higher market share of Xiaomi and Vivo, alongside Vivo’s V series and the Vivo Y200 Pro, the report said.
The low annual growth in the quarter is attributed to the national general elections, extreme weather, fluctuating demand and slow migration from feature phones to smartphones. The report also claimed that another element is the growing trend of adopting second-hand smartphones
Indian Smartphone Market H2 2024 Outlook
The report also suggested that most brands are looking forward to clearing their inventory with monsoon e-commerce sales to prepare for upcoming newer launches. It also claimed that buyers are expected to upgrade to higher-end phones with better features and innovations in the coming months. Most customers are expected to focus on 5G connectivity and generative AI support on their smartphones, the report said.
The company expects “mid-single digit growth for both the upcoming holiday season and total shipments” for the remainder of 2024.
