India’s smartphone shipments rise 3% in Q3 2024, Samsung leads by value: Report

5G devices reach record share as premium brands drive market growth

India’s smartphone shipments grew by 3% year-on-year in the third quarter of 2024, with Samsung emerging as the market leader by value, capturing a 23% share. Apple closely followed with a 22% share, according to a report released by Counterpoint’s Monthly India Smartphone Tracker on Wednesday.

The Indian smartphone market saw a significant value increase of 12% year-on-year, reaching an all-time high for a single quarter. Notably, 5G smartphones accounted for a record 81% of overall shipments, highlighting the growing demand for advanced technology.

“The market is increasingly shifting toward value growth, driven by a premiumization trend supported by attractive EMI offers and trade-in programs,” said Prachir Singh, senior research analyst at Counterpoint.

Samsung has focused on its flagship Galaxy S series while enhancing its value-driven portfolio. The company is also integrating Galaxy AI features into its mid-range and affordable premium A series models, encouraging consumer upgrades to higher price segments.

Apple, holding the second position, has aggressively expanded into smaller cities, contributing to significant value growth. The strong performance of the iPhone 15 and iPhone 16 ahead of the festive season has bolstered Apple’s presence, solidifying its appeal among premium smartphone buyers in India.

Emerging brand Nothing has recorded the fastest growth for the third consecutive quarter, achieving an impressive 510% year-on-year increase in shipments and entering the top 10 for the first time. This growth has been driven by portfolio expansion, strategic market penetration, and partnerships with over 800 multi-brand outlets across more than 45 cities.

Additionally, within the Realme portfolio, the contribution of the premium price band (Rs.30,000 and above) rose to 6% in Q3 2024, spurred by the reintroduction of the GT series this year.

For all the latest updates, download PGurus App.

The post India’s smartphone shipments rise 3% in Q3 2024, Samsung leads by value: Report appeared first on PGurus.