Although the market dipped in Q4, India’s smartphone market grew 4 per cent in 2024. vivo overtook Samsung in the top 10 list, while 5G and premium segments saw significant growth.
India’s smartphone market grew by 4 per cent in 2024, reaching 151 million units in shipments. According to a report by the International Data Corporation (IDC), a strong first half (H124) with 7 per cent growth offset slower growth in the latter half, which saw only 2 per cent growth. After five quarters of growth, the market experienced a dip of 3 per cent in 4Q24, with 36 million units shipped.
Notably, Apple became the fourth largest market in India in 2024, following the USA, China, and Japan, with shipments reaching 12 million units, a 34.6 per cent year-on-year (YoY) increase in sales.
In 4Q24, Apple entered the Top 5 brands in India for the first time, holding a 10 per cent market share. The iPhone 15 and iPhone 13 were the top models sold, representing 6 per cent of total shipments that quarter.
Furthermore, there was a rise in average selling prices (ASPs) to US$259, although the 2 per cent YoY growth was much lower than the previous years. The entry-premium segment (US$200–US$400) saw the highest growth, up 35.3 per cent, and accounted for 28 per cent of the market share.
Premium devices (US$600–US$800) grew 34.9 per cent. Key models included the iPhone 15/13/14 and Samsung Galaxy S23/S24. Apple and Samsung saw increased shares in this segment.
On the other hand, 120 million 5G smartphones were shipped, making up 79 per cent of total shipments, a significant increase from 55 per cent in 2023. The mass-budget 5G segment (US$100–US$200) almost doubled, with Xiaomi, Apple, and vivo leading the 5G shipments.
Shipments to offline and online channels grew by 4 per cent each, with a near-equal share of 51 per cent and 49 per cent, respectively. Samsung led the online market, with Apple climbing to fourth place, and vivo dominated offline channels.
vivo overtook Samsung as the market leader in 2024, with a 13.9 per cent YoY increase in market share, thanks to its strong omnichannel strategy and broad product range. Brands like Nothing, Motorola, and iQOO showed the highest annual growth, while the collective share of the top five vendors decreased from 76 per cent in 2022 to 65 per cent in 2024.
Feature phone shipments fell by 11 per cent YoY, with Transsion, Nokia, and Lava leading the market. Overall, 205 million mobile phones were shipped, a slight 1 per cent drop from the previous year.
Reviewing the year, Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific, stated, “The vendors and channel partners continued to provide price cuts, discounts, and extended device warranties in the post-festive period in 4Q24. While financing options were available across price segments, its impact was more pronounced in mid-range and premium devices throughout the year, with the ‘No Cost EMIs’ for up to 24 months being most popular.”
“With a low single-digit growth in 2024, growth in 2025 hinges on a stronger performance in the mass segment (US$100<US$200) and more offerings in the entry-premium segment (US$200<US$400) for upgraders,” noted Navkendar Singh, associate vice president, Devices Research, IDC India.
Singh further said that looking ahead, Generative AI features will become key differentiators across various price ranges. Brands focusing on online sales will move offline to sustain growth, but the weakening rupee could affect ASPs and limit annual growth to under 5 per cent.
