Overview of India’s Smartphone Market in 2024
In 2024, India’s smartphone market saw notable changes, with various brands experiencing shifts in market share. The total shipments reached an impressive 151 million smartphones, reflecting a year-on-year growth of 4%. While the growth rate slowed to 2% in the latter half of the year, the first half had a stronger performance, achieving around 7% growth.
Vivo Surpasses Samsung
Changes in Market Leadership
A significant highlight of 2024 is that Vivo overtook Samsung to become the largest smartphone manufacturer in India. According to recent data, Vivo captured 16.64% of the market, while Samsung followed with a share of 13.2%. This marks a transition from 2023, when Samsung held the top position with a 17% market share compared to Vivo’s 15.2%.
Competitors
In the competitive landscape, OPPO and Xiaomi both secured a share of 12%, placing them in third place. Realme slightly lagged behind in fourth with an 11% market share.
Apple Makes Its Mark
Rising Market Share
For the first time, Apple entered the top five smartphone brands in India, holding the fifth spot with an increased market share of 8.2%, up from 6.4% in 2023. Notably, in Q4 of 2024, Apple achieved a remarkable 10% market share, indicating its growing popularity among Indian consumers.
Sales Performance
Apple’s performance in India was significant, with the company shipping around 12 million iPhone units. As a result, India has now become Apple’s fourth-largest market, following the United States, China, and Japan. The iPhone 15 and iPhone 13 were the standout models, accounting for nearly 6% of the company’s overall shipments in the last quarter of the year.
Key Market Trends
Growth of 5G Smartphones
The demand for 5G smartphones saw a dramatic increase in 2024, with shipments rising to 79%, compared to just 55% in 2023. This shift highlights a growing consumer preference for high-speed connectivity, with a total of 120 million 5G smartphones shipped throughout the year.
Popular Smartphone Models
Several models stood out in terms of sales in 2024. The top shipments included the Xiaomi Redmi 13C, Apple iPhone 15, Vivo Y28, Apple iPhone 13, and Vivo T3X, showcasing a mix of brands catering to different segments of the market.
Online vs. Offline Sales
Both online and offline sales for smartphones grew by 4% year-on-year. Samsung continued to dominate in online sales, but Apple made significant progress, with the iPhone 15 becoming its best-selling model in online channels. On the contrary, Vivo maintained its stronghold in offline sales, exhibiting its robust distribution network.
Growth in Premium Segments
The entry-level premium smartphone segment, which includes devices priced between $200 and $400, experienced an impressive growth of 35.3%. The premium smartphone category, priced between $600 and $800, also rose with a growth rate of 34.9%. This trend indicates consumers are increasingly willing to invest in higher-quality smartphones with advanced features.
Feature Phone Market
Interestingly, the feature phone segment saw a decline of 11% year-on-year, with 54 million units shipped in 2024. Despite the decrease, Transsion remained the leader in feature phone shipments in India, followed by Nokia and Lava.
Conclusion
In summary, India’s smartphone market in 2024 showcased dynamic changes, with Vivo emerging as the leader, Apple making significant strides, and a growing inclination toward 5G devices. As more consumers opt for premium smartphones, the landscape is set for even more competition in the years to come. The combination of both online and offline sales growth indicates a healthy market that reflects the evolving preferences of Indian consumers.