According to the report Xiaomi and Vivo had the largest market share in India in Q2 2024.
Xiaomi and Vivo occupy 18 percent share each of the smartphone market in India
Photo Credit: Xiaomi
Smartphone shipments in India grew by only one percent in the second quarter (April-June) of 2024 on a year-on-year (YoY) basis, according to a report by a technology market analyst firm. The report suggests that the slight growth is a result of a number of different factors, including national elections, lower seasonal demand and extreme weather conditions in some areas. Among the top brands with the largest market share in the quarter were Xiaomi and Vivo. Notably, estimates for Xiaomi in this report include data from Poco, the company's sub-brand, while estimates for Oppo exclude OnePlus.
A report by market analyst firm Canalys claims that the total number of smartphone units shipped in India in Q2 2024 was 36.4 million, which is marginally more than the 36.1 million units shipped in Q2 2023. The report shows that Xiaomi and Vivo each shipped 6.7 million units and had an 18 percent market share each.
Samsung followed closely at 17 percent with 6.1 million units shipped, while Realme and Oppo shipped 4.3 million and 4.2 million units each, with 12 and 11 percent market share, respectively.
Contributing to Xiaomi and Vivo's larger market share were the Redmi Note 13 Pro series, and the Xiaomi 14 Civi, alongside Vivo's V-series and the Vivo Y200 Pro, the report added.
The small yearly growth in the quarter is attributed to the national general elections, extreme weather, fluctuating demand and slow migration from feature phones to smartphones. The report also claimed that another element is the growing trend of adopting second-hand smartphones
The report also suggested that most brands will look forward to clearing their inventory with monsoon e-commerce sales to prepare for upcoming newer launches. It also claimed that buyers are expected to upgrade to higher-end phones with better features and innovations in the coming months. Most customers are expected to focus on 5G connectivity and generative AI support on their smartphones, according to the report.
The firm expects "mid-single-digit growth in both the upcoming festive season and overall shipments" in the rest of 2024.
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