Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne but Samsung leads in terms of value

• The Indian smartphone shipments declined by 2% in Q2 2024 amid a heatwave in the country.
• Xiaomi has emerged as the top smartphone maker, reclaiming its throne from Samsung.
• Samsung still leads the Indian smartphone market in terms of value.

The Indian smartphone shipments reported a year-on-year decline of 2% in Q2 2024 (April to June), resulting in an inventory build-up. Despite declining shipments, the market value hit a new record for Q2.

According to a report by Counterpoint Research, the decline in smartphone shipments in Q2 2024 was due to the heatwave in the country, a seasonal slump and reduced demand from Q1 2024.

“Heatwave conditions in various regions led to lower footfalls in offline channels and delayed smartphone purchases as consumers prioritised appliances like air conditioners and refrigerators,” said Shilpi Jain, senior research analyst, Counterpoint Research.

Smartphone shipments market share

Company	Q2 2024	Q2 2023
Xiaomi	18.9%	15%
Vivo	18.8%	17.4%
Samsung	18.1%	18.4%
Realme	12.5%	12%
Oppo	11.4%	11.3%

Source: Counterpoint Research

Xiaomi has dethroned Samsung to retake the top spot, with an 18.9% market share in Q2 2024, up from 15% in Q2 2023. The company reported a 23% year-on-year growth in shipments, driven by its streamlined and focused portfolio.

Vivo has emerged as a close second with a market share of 18.8% in Q2 2024, up from 17.4% in Q2 2023. The company maintained the second spot.

Samsung, which was at the top spot in Q2 2023 with an 18.4% market share was pushed to the third spot with a market share of 18.1%.

Realme and Vivo maintained the fourth and fifth spots with a market share of 12.5% and 11.4% respectively.

Indians moving towards premium smartphones

Indian consumers are moving towards premium smartphones and this was evident in Q2 2024 as the value of smartphones shipped reached a new high for Q2 despite a decline in shipments.

The ultra-premium segment, which consists of smartphones priced above INR 45,000 recorded a 24% year-on-year growth.

Despite being third in terms of market share in shipments, Samsung occupies the top spot with nearly a quarter of the market value.

Company	Q2 2024	Q2 2023
Samsung	24.5%	23.2%
Vivo	16.8%	16%
Apple	16.3%	16.2%
Xiaomi	10.8%	8.1%
Oppo	10.1%	9.6%

Source: Counterpoint Research

Samsung tops the list with a 24.5% share in market value, up from 23.2% in Q2 2023.

Vivo takes the second spot here as well, with a 16.8% share in market value, up from 16% in Q2 2023.

Apple, which caters to the premium segment takes the third spot with a 16.3% share in in market value, slightly up from 16.2% recorded in Q2 2023.

5G smartphones record new high

5G smartphones have achieved a new record in share at 77% of overall shipments in Q2 2024. This has been driven by the reduction in the average selling prices (ASPs) of 5G smartphones.

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