India’s Smartphone Market Volume Grows 3%, Value At 12% In 3Q24

- Advertisement -

Fueled by premium devices and festive buzz, India’s smartphone market skyrocketed with a 3% volume boost and a 12% value surge in Q3 2024.

India’s smartphone market experienced a 3% year-on-year (YoY) growth in volume during Q3 2024 (July-September), while the market value surged by an impressive 12% YoY, reaching a record high for a single quarter, according to a Counterpoint report. 

The report stated that a continuing trend toward premium devices drove this value increase. At the same time, the volume growth was attributed to an earlier start to the festive season compared to 2023. Besides, original equipment manufacturers (OEMs) stocked retailers to prepare for anticipated sales spikes during the festive period, although sales initially picked up more slowly than the previous year.

- Advertisement -

According to Senior Research Analyst Prachir Singh at Counterpoint, the market increasingly focuses on value growth, spurred by premiumisation, aggressive EMI offers, and trade-in programmes. 

Samsung led the market in value share at 23%, focusing on its flagship Galaxy S series and expanding its value-driven offerings. The company also incorporates Galaxy AI features into its mid-range and affordable premium A series models, encouraging consumers to move to higher price tiers.

Apple holds a 22% value share, focusing on smaller cities and promoting newer iPhone models. Strong shipments of the iPhone 15 and 16 have enhanced its appeal, reinforcing its status as the top choice for premium consumers in India.

Commenting on the market’s volume dynamics, Research Analyst Shubham Singh said, “During Q3 2024, several sales events were hosted by both OEMs and channels. These included parallel offline campaigns, which helped some of the OEMs clear existing inventory. This, in turn, enabled them to fill channels with multiple new launches ahead of the festive season.” 

vivo maintained healthy inventory levels throughout the year, and this helped it reclaim the top spot in the Indian smartphone market with 26% YoY growth, supported by a diverse product portfolio and the successful expansion of its T series. 

Xiaomi claimed the second position with a 3% YoY growth, driven by its balanced focus across online and offline channels. With 41% YoY growth, OPPO emerged as the fastest-growing brand among the top five. As per the report, the brand was supported by new product launches and an aggressive market strategy.

Nothing emerged as the fastest-growing brand for the third consecutive quarter, achieving a remarkable 510% YoY shipment increase in Q3 2024 and breaking into the top 10 for the first time. This growth was supported by expanding its product portfolio, strategic market entry, and partnerships with over 800 multi-brand outlets across more than 45 cities.

Motorola also experienced substantial growth, with an 87% year-on-year increase in Q3 2024, driven by the popularity of its budget-friendly models that emphasize color, material, and finish (CMF), as well as rising demand from smaller cities and an expanding market presence.

In 3Q24, 5G smartphones reached an all-time high, accounting for 81% of total shipments. In the INR 10,001 to INR 15,000 price segment (~$120-$240), 5G penetration soared to 93% as brands concentrated on launching budget-friendly 5G models.

The report anticipates a significant rise in audio-visual enhancements in smartphones, spurred by features like Dolby Atmos for immersive sound, Dolby Vision for enhanced visual clarity, and Dolby Vision recording for high dynamic range content.

MediaTek led India’s smartphone chipset market with a 54% share, while Apple topped the premium segment at 35%, followed by Qualcomm at 28%. In feature phones, itel retained a 36% market share, aided by competitive pricing, followed by Lava at 26%.

- Advertisement -

Most Popular Articles

Shubha Mitra
Shubha Mitra
Shubha is a journalist at EFY. She is keenly interested in India's evolving electronics ecosystem. Her focus revolves around government policies, legislation, and public-private partnerships related to the industry.

Maini Group Partners With SiMa.ai To Enter Autonomous Tech Sector

0
Maini Group, which introduced India's first electric vehicle in the 1990s, has a longstanding commitment to electrifying in-plant machinery, especially in the Class 3...
Xiaomi EV Car

Xiaomi’s SU7 Ultra EV Prototype Sets A Lap Time Of 6 Mins & 46.874...

0
The car features cutting-edge aerodynamics and a lightweight carbon-fiber structure, along with advanced battery technology from CATL. Chinese smartphone maker Xiaomi, which has now forayed...

TVS Regains Second Place From Bajaj In Electric Two-Wheeler Market

0
The festive season has sparked a slight shift in the electric two-wheeler (e2W) market, as TVS iQube has overtaken Bajaj Chetak in sales. According...

Magna Secures European OEM Order For Hybrid-Compatible Transmissions

0
The first major contract for the new product has been awarded, supporting different vehicle models worldwide equipped with ICE transmissions. The new modular DCT...

India, Germany Unite at NXP’s Semiconductor Roundtable Event

0
Culminating in Germany's partnership for ELECRAMA 2027, NXP Semiconductors' Noida roundtable united German and Indian leaders to explore semiconductor cooperation. NXP Semiconductors hosted a...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...
Rupali Pawar, Senior Vice President of Business at Mukunda Foods

“Transforming Global Cuisines by Automating 80% Of Recipes” – Rupali Pawar, Senior Vice President...

0
In a recent discussion with Nitisha from EFY, Rupali Pawar, Senior Vice President of Business at Mukunda Foods, provided valuable insights into the advancements...
Harry Bajaj, CEO, Mobec Portable EV Charging Solutions

“Our Aim Is Not To Compete With Existing EV Infrastructure But To Complement It...

0
In a conversation with Nitisha Dubey of EFY, Harry Bajaj of Mobec Portable EV Charging Solutions, discusses his shift from the B2C to B2B...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups