Indian Smartphone Market Hits Record Value in Q3 2024
Counterpoint’s Monthly India Smartphone Tracker report reveals that the nation’s smartphone quantity grew by 3 % YoY in Q3 2024, whereas its worth surged by a formidable 12 % YoY to succeed in a document for a single quarter. Like in earlier quarters, Samsung received a serious share of India’s smartphone shipments and maintained its high place in Q3 with a market share of 23 %. Integration of Galaxy AI options into its mid-range and reasonably priced premium fashions within the A sequence helped the South Korean model enhance gross sales.
In phrases of smartphone market worth share, iPhone maker Apple grabbed 21.6 % of the market share due to shipments of the iPhone 15, and iPhone 16 fashions forward of the pageant season in India. Vivo adopted Apple on the third place with a 15.5 % market share. Vivo’s BBK siblings Oppo and Xiaomi got here in fourth and fifth positions, respectively. Oppo had a ten.8 % % market share, whereas Xiaomi obtained an 8.7 % market quantity share.
The report notes that the continued premiumisation development fueled the worth progress and earlier onset of the pageant season driver the quantity progress. “The market is more and more shifting towards worth progress, fueled by a premiumisation development, which, in flip, is supported by aggressive EMI gives and trade-ins,” stated Counterpoint’s senior analysis analyst Prachir Singh.
In phrases of quantity share, Vivo reclaimed the highest spot with a 19 % share, adopted by Xiaomi with 17 %. Samsung, Oppo and Realme got here within the third, fourth and fifth positions, respectively. As per the report, Oppo emerged because the fastest-growing model among the many high 5.
The Counterpoint report factors out that Carl Pei’s Nothing was the fastest-growing smartphone model for the third consecutive quarter, recording a 510 % YoY progress in shipments this quarter. The UK model entered the highest 10 for the primary time on this quarter.
Motorola recorded 87 % YoY progress in the identical quarter. Further, the report states that 5G smartphones achieved their highest-ever share of 81 % in total shipments. In the Rs. 10,001 – Rs. 15,000 segments, 5G penetration reached 93 %.
