Led by Vivo, Indian smartphone market surges 3.2% in Q2
India's smartphone market has witnessed a significant growth of 3.2% in the second quarter of 2024, as per data from International Data Corporation (IDC). The report indicates that shipments reached an impressive figure of 39 million units during this period. Chinese tech giant Vivo emerged as the market leader with a substantial share of 16.5%, marking a year-over-year (YoY) increase of 6.7%.
Vivo's dominance and Xiaomi's performance
Vivo's market dominance was primarily due to its diverse product launches across various price ranges, including the Y series, mid-premium V series, and flagship X Fold 3 Pro. This marks Vivo's leadership for two consecutive quarters in India. Trailing behind Vivo was Xiaomi with a market share of 13.5%. However, Samsung experienced a downturn as it slipped to third place with a 12.9% share following a YoY shipment decline of 15.4%.
Apple's market position
Despite securing the sixth spot with a 6.7% market share, Apple saw a significant YoY shipment increase of 24.2%. In the super-premium segment for smartphones priced above ₹67,000, Apple dominated with an impressive 83% share. Samsung followed at a distant second with 16%. For the premium segment priced between ₹50,000 to ₹67,000, Apple's share rose YoY to 61%, while Samsung experienced a slight increase from 21% to 24%.
Entry-premium segment records highest growth
The entry-premium segment, priced between ₹16,700 to ₹33,500, recorded the highest growth of all segments at 42% on a YoY basis. This surge led to an increase in its overall market share from 22% to 30%. According to IDC's Worldwide Quarterly Mobile Phone Tracker report, India shipped 69 million smartphones in the first half of 2024. Out of these shipments, a significant portion (27 million) were 5G devices.
5G smartphone shipments and market share increase
The share of 5G handset shipments rose to 77%, up from 49% in the previous year. The average selling price (ASP) of these devices saw a decrease by 22% YoY, settling at around ₹24,600. Within the budget segment for 5G phones priced between ₹8,000-₹16,700, there was a significant market share increase of up to 45%. This growth was driven by an impressive surge in sales that was two-and-a-half times higher than before.
