The Indian smartphone market experienced a great hike in shipment during the January to March quarter of 2024. India experienced 8 percent YoY growth and 18 percent growth in terms of the overall value of the smartphones shipped, based on a recent report. While the Indian smartphone market is growing with each day passing, the Chinese smartphone brand Vivo has dominated the market with the highest market share. In terms of market share, Vivo surpassed Samsung and Xiaomi with tremendous growth in Q1.
Vivo has become most popular in India
According to a new Counterpoint report, for the first time Vivo recorded a 19.5 percent volume share in India which is greater than Samsung. The market share of the Chinese company grew during the quarter due to “5G leadership and CMF (Color, Material, Finish) positioning, along with strong imaging capabilities,” said Research Analyst Shubham Singh.
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In the report, Samsung received the third position below Xiaomi with a share volume of 17.5 percent. However, in the premium market segment, Samsung dominated the market. India, Samsung maintained a selling price of $425 which is the highest average price the company has ever achieved for its smartphones sold in India.
Premium smartphones market share in India
On the other hand, Apple also experienced a record volume share in India in the premium market due to the latest iPhone 15 series. This showcases that the growing demand for premium smartphones is drastically increasing in the country, reflecting premiumisation. Furthermore, a CyberMedia Research (CMR) report highlights that Apple received a 6 percent market share in the smartphone market during Q1 2024. This was reflected in the increasing demand for the iPhone 15 series which contributed to 60 percent of its total shipments
Now, a new quarter has started with several smartphone launches in the midrange and premium segment. Additionally, the second half of the year holds much hope for smartphones like Samsung and Apple during which they will be revealing their new generation of flagship phones. Lastly, the Counterpoint report also predicted that the Indian smartphone market is expected to grow in single digits in 2024.
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