Vivo, Xiaomi lead as Indian smartphone market grows 7% in first half of 2024: Report

India's smartphone market growth, segment analysis, and future trends in a concise and informative manner.

India’s smartphone market grew by 7.2% year-over-year (YoY) in the first half of 2024, reaching 69 million units, according to a report from IDC.

Despite being the fourth consecutive quarter of YoY shipment growth, muted consumer demand and rising average selling prices continue to hinder a swift annual recovery.

While the average selling price of smartphones increased by 2.8%, there was a decline on a quarter-over-quarter basis. The most significant drop was observed in the entry-level segment, which saw a 36% YoY decline, reducing its market share to 14% from 22% a year ago. Xiaomi maintained its lead in this segment, followed by Poco and Realme.

In the mass-budget segment, shipments grew by 8% YoY, with the segment’s share marginally increasing to 44% from 42%. The top three brands—Xiaomi, Realme, and Vivo—accounted for 60% of this segment.

The mid-premium segment saw a 25% decline in unit terms, down from 5% a year ago. Vivo led this segment, followed by OnePlus and Oppo.

In the premium segment, Apple’s market share increased YoY to 61%, while Samsung’s share rose to 24% from 21%. However, overall, the premium segment accounted for only 2% of the market and experienced a 37% decline in unit terms.

Conversely, the super-premium segment continued its growth momentum, recording a 22% increase, with its share rising from 6% to 7%. The iPhone 15/15 Plus and iPhone 14/14 Plus together made up 77% of shipments, followed by the Galaxy S24/S24 Ultra with an 11% share.