Summary:

According to Counterpoint, India's smartphone market increased by 3% year-on-year in volume and 12% in value in Q3 2024, setting a new record. The rise in value was driven by a premiumization trend, while the increase in volume was due to an earlier festival season. However, sales began more slowly than the previous year as OEMs prepared shops for the holiday spike.

In the third quarter, 5G smartphones accounted for an all-time high of 81% of total shipments, with the $118.98-$178.46 category capturing 93%. Samsung led in value with a 23% share, followed by Apple at 22%, boosted by strong sales of the iPhone 15 and 16. Vivo led the volume market with 26% year-on-year growth, while newcomer Nothing recorded a staggering 510% year-on-year rise in shipments.

Source: IBEF 

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