India's Smartphone Market Grows by 6% to Reach 46 Million Units in Q3 2024 with Vivo Leading

In the July-September quarter, smartphone shipments in India rose by 6%, reaching 4.6 crore units, with Vivo leading the market. According to a report by IDC, iQoo experienced the highest growth among the top 10 brands. Chinese manufacturers dominated, capturing about 72% of the market share during this period.

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The Indian smartphone market has been on an upward trajectory for five consecutive quarters. In Q3 2024, shipments hit 46 million units, marking a 5.6% year-over-year increase. Apple and Samsung held 8.6% and 12.3% market shares, respectively, as per IDC's Worldwide Quarterly Mobile Phone Tracker.

Market Dynamics and Brand Performance

Apple achieved its largest shipment quarter with 4 million units, driven by iPhone 15 and iPhone 13 models. This expanded Apple's value share to 28.7%, compared to Samsung's 15.2%. The premium phone segment, priced between Rs 50,000 and Rs 68,000, saw an impressive growth of 86%, doubling its supply share from last year to 4%.

Key models in this segment included iPhone 15/13/14, Galaxy S23, and OnePlus 12. Apple's share in this category rose to 71%, while Samsung's dropped to 19% from last year's 30%. The entry-premium segment (Rs 16,000 to Rs 35,000) grew by 42% YoY, making up 28% of total supplies.

5G Adoption and Segment Trends

Oppo emerged as the biggest winner in the entry-premium segment, while Samsung and Vivo saw declines; together they accounted for 53% of this segment. The share of 5G smartphone shipments increased significantly to 83% from last year's 57%, with the average selling price dropping by 20% YoY to approximately Rs 24,600 (USD 292).

The mass budget segment for 5G phones (USD 100 to USD 200 or Rs 8,000-Rs 16,000) nearly doubled its share to reach 50%. Top-shipped models included Xiaomi Redmi 13C, Apple iPhone 15, OPPO K12x, Vivo T3x and Y28.

Brand Market Shares and Growth

Vivo's supply volumes increased by 20% YoY, boosting its market share to 15.8% from last year's 13.9%. Vivo maintained its lead for the third consecutive quarter with its affordable Y series and new T3 and V40 series.

Oppo held a market share of 13.9%, followed by Realme at 11.5%, Xiaomi at 11.4%, Poco at 5.8%, Motorola at 5.7%, iQoo at 4.2%, and OnePlus at 3.6% during the reported quarter.

This consistent growth in smartphone shipments highlights India's increasing demand for advanced mobile technology across various price segments.