According to a new report by research firm Counterpoint, smartphone shipments in India grew by 3 percent year-on-year in the period from July to September (Q3) 2024. The total value of smartphones increased by 12 percent in the same quarter compared to last year. Samsung continues to lead the smartphone market with a 23 percent market share, while Apple is in second place, followed by Vivo. Other Chinese smartphone brands took the fourth and fifth places on the list. Festival sales and new launches drove positive growth in Q3.

The Indian smartphone market reached a record high in the third quarter of 2024

Counterpoint’s monthly India smartphone tracker report shows that the number of smartphones in the country grew by 3 percent year-on-year in the third quarter of 2024, while their value rose by an impressive 12 percent year-on-year to hit a single-quarter record. As in previous quarters, Samsung took the lion’s share of smartphone shipments in India and maintained its leading position in the third quarter with a market share of 23 percent. The integration of Galaxy AI features in the mid-range and affordable premium models of the A series helped the South Korean brand to increase sales.

In terms of smartphone market share, iPhone maker Apple gained 21.6 percent market share thanks to shipments of the iPhone 15 and iPhone 16 models ahead of the festival season in India. Vivo follows Apple in third position with 15.5% market share. Vivo BBK Oppo siblings and Xiaomi took the fourth and fifth places, respectively. Oppo held 10.8% of the market share, and Xiaomi – 8.7%.

The report notes that the continued premiumization trend has contributed to the increase in value, while the early start of the festival season has contributed to the increase in volumes. “The market is increasingly shifting towards value growth, fueled by the premiumization trend, which in turn is supported by aggressive EMI and trade-in offers,” said Prachir Singh, senior research analyst at Counterpoint.

In terms of volume share, Vivo reclaimed the top spot with a 19 percent share, followed by Xiaomi with 17 percent. Samsung, Oppo and Realme were in the third, fourth and fifth positions, respectively. According to the report, Oppo emerged as the fastest growing brand among the top five.

A Counterpoint report said Carl Pei’s Nothing was the fastest-growing smartphone brand for the third quarter in a row, recording a 510 percent increase in shipments in the quarter. The UK brand entered the top 10 for the first time this quarter.

Motorola posted 87 percent year-over-year growth in the same quarter. Additionally, the report states that 5G smartphones have reached an all-time high of 81 percent of total shipments. In the Rs 10,001 – Rs 15,000 segment, 5G penetration reached 93 percent.