India's smartphone market grows 3% YoY in Q3 2024: CMR Report

smartphones

India’s smartphone market registered a 3% year-over-year (YoY) growth in Q3 2024, according to CyberMedia Research (CMR). The report highlights robust consumer demand, especially in the mid-range and premium smartphone segments, amid challenging global economic conditions.

Premium smartphone shipments in the Rs 25,000–Rs 50,000 range rose by 57% YoY. The Value-for-Money (VFM) segment, priced between Rs 7,000 and Rs 24,999, saw a substantial 66% YoY growth. Xiaomi led the overall smartphone market with a 17% share, followed by Vivo with 16.3% and Samsung at 16.2%.

In the 5G smartphone market, shipments grew by 49% YoY, with Vivo holding an 18% share and Samsung close behind at 17%. The 5G segment’s growth included a notable increase in devices priced between Rs 10,000 and Rs 13,000, which grew by over 100% YoY, reflecting rising demand for affordable 5G devices. The total 5G smartphone market share reached 82% of all shipments during the quarter.

The report also highlights significant changes in the feature phone market, which saw a 14% YoY decline in Q3 2024. This decline was primarily due to a 46% drop in 4G feature phone shipments, although demand for 2G feature phones fell by only 1%, reflecting steady demand in rural and semi-urban areas.

Additional highlights include Apple’s 27% YoY growth in shipments, as well as a 646% YoY increase for Nothing. Motorola achieved a 74% YoY growth, focusing on value-driven models. MediaTek continued to lead the smartphone chipset market with a 53% share, while Qualcomm led in the premium segment with a 38% share.