Value growth in India’s smartphone market reached a peak of 12 percent year-on-year for the July-September quarter, as more Indians opted for higher-priced smartphones amid a rising trend of premiumization. Samsung and Apple captured the largest value market shares during this period, according to the latest report by Counterpoint Research.
Samsung led in terms of market value with a 22.8 percent share, followed by Apple at 21.6 percent.
Samsung has focused on promoting its flagship Galaxy S series and expanding its value-driven lineup. The company is also integrating Galaxy AI features into its mid-range and affordable premium A series models, encouraging consumers to move into higher price brackets.
Apple, meanwhile, has aggressively expanded into smaller cities, achieving strong value growth by focusing on its newer iPhone models.
“Robust iPhone 15 and 16 shipments ahead of the festive season have further boosted Apple’s performance. As consumers increasingly invest in premium smartphones, Apple has solidified its standing as the top choice for premium buyers in India, bolstered by its aspirational brand image and expanding footprint,” said Senior Research Analyst Prachir Singh.
India’s smartphone volume grew 3 percent year-on-year in the July-September period.
The premiumization trend drove the value growth, while volume growth was prompted by the earlier onset of the festive season compared to 2023. Smartphone brands proactively stocked channels to prepare for the expected sales surge. However, the market tracker noted that festive sales initially started at a slower pace than last year.
“The market is increasingly leaning toward value growth, fueled by premiumization and supported by aggressive EMI offers and trade-ins,” Singh added.
Research Analyst Shubham Singh highlighted that during Q3 2024, brands and channels hosted several sales events, along with offline campaigns, helping some brands clear inventory and restock with new launches ahead of the festive season.
China’s Vivo maintained robust inventory levels, reclaiming the top spot in India’s smartphone market with 26 percent year-on-year growth, driven by a varied product lineup and the successful expansion of its T series.
Xiaomi ranked second, with 3 percent year-on-year growth, thanks to a balanced focus across online and offline channels.
With 41 percent year-on-year growth, Oppo was the fastest-growing brand among the top five, backed by new product launches and an aggressive market strategy.
Realme’s market share dropped to 11.3 percent from 14.4 percent over the quarter.
Nothing was the fastest-growing brand for the third straight quarter, achieving 510 percent year-on-year growth in Q3 2024 and entering the top 10 for the first time. Its growth was supported by portfolio expansion, strategic market reach, and partnerships with over 800 multibrand outlets across 45+ cities.
Motorola recorded an 87 percent year-on-year growth in Q3 2024, driven by the success of budget-friendly models emphasizing color, material, and finish (CMF), along with increasing demand from smaller cities and a wider market presence.
5G smartphones achieved a record share of 81 percent in overall shipments. In the ₹10,001-₹15,000 segment (~$120-$240), 5G penetration reached 93 percent, as brands focused on launching budget 5G models.
MediaTek led India’s smartphone chipset market with a 54 percent share. Apple held the top spot in the premium segment with a 35 percent share, followed by Qualcomm at 28 percent, according to the tracker.
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