Counterpoint Research uncovered fascinating insights into the Indian smartphone market for 2024. The findings indicate that Samsung dropped from its leading position in the Asian country, now ranking third. Vivo accounted for 19% of total shipments, while Xiaomi followed closely with 17%.
Apple maintained its position as the market share leader, as it did in 2023. The iPhone 15 was the most shipped device in Q4 2024, reinforcing the company’s dominance in this area.
In 2024, wholesale revenue rose by 9%, although shipments only increased by 1%, totaling 153 million units.
vivo secured the leading position thanks to a strong offline network, further supported by its sub-brand iQOO. Xiaomi surpassed Samsung because the Korean company adopted value-driven strategies, according to Research Analyst Shubham Singh. This approach resulted in a decline in sales for affordable devices, although the Galaxy S series continued to perform well.
In 2024, Nothing emerged as the fastest-growing brand, boasting a remarkable 577% growth, driven primarily by Phone (2a) sales and the launch of the CMF sub-brand. Additionally, 5G smartphone shipments accounted for 78%, meaning that three out of every four phones were compatible with 5G.
While smartphone manufacturers are in fierce competition, chipset makers experience a different dynamic. MediaTek has outperformed Qualcomm, holding a 52% market share compared to Qualcomm’s 25%, marking a record high for the Taiwanese company.
In the feature phone category for 2024, itel stands out as the leader with a 32% market share.
