The Indian smartphone market was flat with a growth rate of only 1% in the second quarter of 2024 due to subdued seasonal demand.
Analyst house Canalys said in its report only 36.4 million units were shipped in Q2 and also blamed the flat growth on extreme weather conditions.
Xiaomi retook first place by shipping 6.7 million units (18% market share). Fellow Chinese vendor Vivo was ranked second with around 6.7 million units (18%) as consumers took up its affordable 5G and mid-range devices. Korean giant Samsung placed third with 6.1 million units (17%), while Realme and Oppo (excluding OnePlus) shipped 4.3 million (12%) and 4.2 million units (11%) respectively.
Canalys Senior Analyst, Sanyam Chaurasia, said: “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.”
Chaurasia added: “A recent Canalys consumer study revealed that 44% of the consumers expect to purchase a device within the next 12 months, with a significant majority being ‘upgrade buyers’ focused on the latest innovations, including 5G advancements. Canalys anticipates mid-single-digit growth in both the upcoming festive season and overall shipments this year.”
