New Delhi New Delhi: India's smartphone volumes grew by 3 per cent (year-on-year) in the third quarter of this year (Q3 2024) as Samsung led the way by value with 23 per cent share, according to a report on Wednesday. In this case, Apple is leading the market, followed by Apple with 22 percent share. According to the latest research from Counterpoint's Monthly India Smartphone Tracker, the value of the Indian smartphone market has grown an impressive 12 percent (y-o-y) in a single quarter to reach an all-time record. 5G smartphones achieved their highest-ever share of 81 percent in total shipments.
“The market is moving towards rapid price appreciation, driven by the premiumization trend, which in turn is supported by aggressive EMI offers and trade-in,” said Prachir Singh, senior research analyst. Samsung is also integrating Galaxy AI features into its mid-range and affordable premium models in the A series, encouraging consumers to upgrade to higher price segments. Apple, on the other hand, is close to Samsung in second place. The brand has aggressively expanded into smaller cities, leading to significant price increases with a greater focus on the new iPhones.
Singh said, “Strong shipments of iPhone 15 and iPhone 16 ahead of the festive season have further boosted Apple's performance. As consumers are increasingly investing in premium smartphones, Apple has made a strong case for premium buyers in India. “Consolidating its position as a top choice, supported by its aspirational image and expanding footprint.” Nothing remained the fastest growing brand for the third consecutive quarter, registering an impressive 510 percent growth in shipments in Q3 2024 and entering the top 10 for the first time. Nothing's growth was driven by portfolio expansion, strategic market penetration and partnerships with over 800 multi-brand outlets across more than 45 cities, the report said. Within the Realme portfolio, the contribution of the premium price band (Rs 30,000 and above) increased to 6 percent in Q3 2024, driven by the re-introduction of the GT series this year.
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