The Indian smartphone market declined by 2% YoY in the second quarter of 2024, but 5G smartphones saw their highest market share growth so far.
Analyst house Counterpoint Research said in its report the decline to overall Indian shipments was due to a heatwave seasonal slump and slower demand from Q1. It did not break out numbers for the quarter.
Counterpoint Research Senior Analyst Shilpi Jain said: “Heatwave conditions in various regions led to lower footfalls in offline channels and delayed smartphone purchases as consumers prioritized appliances like air conditioners and refrigerators. This reduced demand caused an inventory build-up.
"However, summer sales at online channels, good harvest and aggressive promotions towards the end of the quarter provided relief to OEMs, helping close the quarter on a better note than at the beginning."
In Q2, Xiaomi took top spot with 23% YoY growth taking 18.9% market share. Vivo came a close second with 18.8% market share, followed by Samsung in third with 18.1%. Realme was fourth with 12.5% and Oppo took fifth with 11.4%.
5G growth
The analyst company reported 5G smartphone shipments took 77% market share, driven by lower average selling prices. Vendors are competing to launch more affordable 5G devices.
India’s smartphone market is also experiencing the trend of premiumisation. As consumers continue to upgrade to higher value devices. There was a 24% growth in devices costing over INR45,000 (US$537).
