NEW DELHI: Chinese mobile maker Xiaomi dominated the Indian smartphone market in Q2 2024, capturing a 19.3 per cent share, closely followed by Samsung and Vivo with 18.5 per cent and 17 per cent shares, respectively.
According to a report by CyberMedia Research (CMR), Realme and OPPO secured the fourth and fifth spots with 13 per cent and 9 per cent shares. Meanwhile, Apple made its mark with a 5 per cent share, driven by the popularity of its iPhone 15 series, which accounted for 58 per cent of its total shipments.
Despite these gains, the Indian smartphone market experienced a 4 per cent year-on-year decline, signalling a challenging landscape for manufacturers.
“The Indian smartphone market is flourishing with a notable surge in 5G adoption and an increasing shift towards premium devices. The availability of affordable 5G phones in the Rs. 10,000 to Rs. 13,000 range has significantly propelled market growth,” said Menka Kumari, Analyst at the Industry Intelligence Group, CMR.
“Additionally, the premiumization trend continues, with the premium segment (above Rs. 25,000) witnessing a 9 per cent YoY growth,” she added.
The share of 5G smartphone shipments increased to 79 per cent, marking a notable 56 per cent YoY growth. Vivo led the 5G smartphone market with a 21 per cent share, followed by Samsung at 20 per cent. During the quarter, 5G smartphones priced between Rs. 10,000 and Rs. 13,000 grew by 200 per cent year-on-year.
The affordable smartphone segment (below Rs. 7,000) faced challenges, with a 26 per cent YoY decline. This shift reflects a growing consumer preference for more feature-rich options.
The value-for-money segment (Rs. 7,000 to Rs. 25,000) led the market with a commanding 71 per cent share, underscoring consumer demand for high-quality devices at accessible prices. The premium smartphone segment (above Rs. 25,000) experienced robust growth, with a 9 per cent YoY increase.
The overall feature phone market saw a 1 per cent YoY growth. However, 2G feature phone shipments decreased by 6 per cent YoY, while 4G feature phone shipments grew by 39 per cent, primarily driven by Jio with a 68 per cent market share, followed by Nokia at 28 per cent.
CMR estimates that India’s smartphone market will grow by 7-8 per cent in 2024, driven by strong demand for 5G and AI smartphones.
According to Pankaj Jadli, Analyst at the Industry Intelligence Group (IIG), CyberMedia Research (CMR), “With the festive season approaching, the Indian smartphone market is poised for substantial growth driven by consumer interest in premium and value-for-money smartphones. Aggressive offers and easy financing schemes will fuel consumer smartphone upgrades. It will be interesting to see the diffusion of 5G into lower price tiers.”