The latest Canalys research report has revealed two interesting developments in the Indian smartphone market during the second quarter of 2024.
First, buyers or fans have reduced spending on smartphones amid elections, subdued seasonal demand and extreme weather conditions in some regions. The growth in the Indian smartphone market was 1 percent in Q2 2024.
Second, Xiaomi has reclaimed the top spot in the Indian smartphone market after six quarters, capturing an 18 percent market share with 6.7 million units shipped. Samsung is the third largest smartphone maker in India. This indicates fans and traders have rejected innovative smartphones from Samsung — at least during the second-quarter of 2024.
India growth
Smartphone vendors have shipped 36.4 million units, registering 1 percent in Q2 2024.
Xiaomi is the new leader in Indian smartphone market. Xiaomi has 18 percent market share. Xiaomi has 6.7 million units.
Vivo is the second largest smartphone supplier in India. Vivo shipped 6.7 million units, boosted by affordable 5G and mid-range models. Vivo has also 18 percent share in India.
Samsung shipped 6.1 million units. Samsung has 17 percent share.
Realme shipped 4.3 million units. Realme has 12 percent share.
OPPO (excluding OnePlus) shipped 4.2 million units. OPPO has 11 percent share.
Others have 24 percent share as they shipped 8.4 million smartphones during the second quarter of 2024.
How Xiaomi captured top rank
Xiaomi has boosted its mid-to-high-end product lineup, driving volumes for the quarter with the Redmi Note 13 Pro series featuring refreshed color offerings and the newly launched Xiaomi 14 Civi with its camera quality and distinctive leather design.
Vivo’s success
Vivo’s success in the mid-range market was driven by V-series and Y200 Pro, focusing on refined design and camera features, along with increased push through LFR retail stores.
Realme has expanded its mid-premium portfolio with the GT 6T and Number series models and plans to clear elevated inventory during the monsoon e-commerce sales.
“Vendors should focus on business viability over market share, emphasizing strong value propositions for consumers. The market is grappling with challenges such as fluctuating demand in the mass-market segment, slow migration from feature phones to smartphones and increasing adoption of second-hand smartphones,” said Sanyam Chaurasia, Senior Analyst at Canalys.
Smartphone brands need to prioritize product innovation, ecosystem development and personalized experiences to ensure consistent year-round shipment upgrades, forging a sustainable business model beyond seasonal demand and deep discounts.
Canalys did not reveal the number of 5G smartphones sold in India during the second-quarter of 2024.
Baburajan Kizhakedath