Indian smartphone market see 11% growth in Q1 2024: Vivo, Xiaomi and Samsung dominates
After the Counterpoint report highlighting the significant growth in the Indian smartphone market with Vivo becoming the best-selling brand, International Data Corporation (IDC) has also released a new study showcasing growth in the first quarter of 2024. The report claimed that the Indian smartphone market shipped over 34 million smartphones in Q1 2024, with the recorded 11.5 percent YoY (year-over-year) growth. This also showcases the third consecutive growing quarter. Know more about the IDC report.
According to an IDC report, the three major smartphone brands, Vivo, Xiaomi and Samsung dominated the Indian smartphone market with shipment of mass-budget smartphones. These three brands made over 53 percent share in this segment. On the other hand, entry-level smartphones experience a shipment decline. However, Xiaomi topped the charts under $100 followed by Poco and Itel.
The entry-premium smartphone market also experienced a boost which now makes up to 23 percent of the total smartphone market share. This segment was dominated by Oppo and Realme. Now, in terms of the mid-range smartphone category, the market share declined by 46 percent and it is similar to the premium-range smartphone which experienced a decline of 21 percent in unit terms. However, the premium smartphone market was led by the iPhone 13, Galaxy S23FE, Galaxy S23, iPhone 12 and OnePlus12. Lastly, the major growth was highlighted in the super-premium smartphone market with Apple and Samsung making the highest shipment with top models such as the iPhone 15 series, iPhone 14 series, Galaxy S24 series and the Galaxy S23.
Overall, Vivo became a top competitor replacing companies like Samsung and Apple in the Indian smartphone market and becoming the No. 1 smartphone brand in the country. The same was highlighted by the Counterpoint study as well. While the first quarter was good for Samsung and Apple, the end of the year will shed more light on how these smartphone brands performed globally with the new
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