India’s smartphone market drops 4% in Q2 2024; 5G phones hit 79% share

In the second quarter of 2024 with a 19.3% market share, Xiaomi was the market leader for smartphones in India. Vivo and Samsung were in little behind with 18.5% and 17%, respectively. In Q2 2024, there was a notable 56% year-over-year growth in the shipping of 5G handsets in India, according to research released on Tuesday by CyberMedia Research (CMR). Due to this upsurge, smartphones with next-generation technology now account for 79% of the market.

Key Highlights:

• In Q2 2024, 5G smartphone shipments saw a substantial 56% increase compared to the previous year.
• The shipment of premium smartphones, priced between INR 25,000 and INR 50,000, grew by 29% year-over-year.
• Xiaomi emerged as the market leader in smartphone sales during Q2 2024, with Samsung following closely.
• Shipments of 4G feature phones surged by 39% year-over-year in Q2 2024.

CMR Report: 5G Soars Amid Smartphone Decline in Q2 2024

CyberMedia Research (CMR) released its India Mobile Handset Market Review Report for Q2 2024 today, revealing a 4% year-over-year decline in the Indian smartphone market. Despite the overall downturn, the share of 5G smartphone shipments surged to 79%, registering a significant 56% growth from the previous year. Vivo led the 5G market with a 21% share, closely followed by Samsung with 20% in the same period.

Meanwhile, total mobile market shipments fell by 3% year-over-year. Xiaomi, Samsung, and Vivo occupied the top three positions on the smartphone leaderboard with market shares of 19.3%, 18.5%, and 17% respectively, with Realme and Oppo following at 13% and 9%. Additionally, the 5G smartphones in the price range of INR 10,000 to INR 13,000 saw an exceptional growth of over 200% year-over-year.

The budget smartphone category (priced under Rs. 7,000) experienced a downturn, with a 26% year-on-year decline, indicating a shift towards models with more features. The mid-range segment (Rs. 7,000 to Rs. 25,000) dominated the market, capturing a 71% share, highlighting the consumer preference for quality devices at reasonable prices. Meanwhile, the premium smartphone segment (above Rs. 25,000) saw a healthy 9% growth year-on-year.

The feature phone market overall recorded a modest 1% year-over-year growth. Within this category, 2G feature phone shipments fell by 6%, contrasting sharply with a 39% surge in 4G feature phone shipments. This growth was largely propelled by Jio, which captured a 68% market share, with Nokia following at 28%.

In the recent quarter, Xiaomi maintained its lead in the smartphone market, holding a 19% share with popular models like the Redmi 13C 5G and Redmi 12 5G. Xiaomi's sub-brand, POCO, also saw significant growth with a 20% increase in shipments year-over-year. Vivo came in second with a 17% market share, driven by strong sales of the vivo T2 Pro 5G and vivo Y28. Realme, securing the fourth spot, recorded a 13% market share and a modest 4% growth in shipments, with the Realme 12x and Realme C65 being its leading models. 

Apple captured 5% of the market, with the iPhone 15 series making up 58% of its total shipments. Motorola experienced a remarkable growth exceeding 175% year-over-year, led by models like the Moto G34 and Moto G24 Power. In the feature phone segment, Jio held a 15% market share, primarily due to the popularity of the JioBharat B1 and JioPhone Prima, which accounted for 36% and 22% of its sales, respectively. MediaTek led the smartphone chipset market with a 54% share, introducing the new Dimensity 9300 chipset during the quarter. Qualcomm dominated the premium segment (priced above INR 25,000), holding a 37% share.

CMR forecasts a 7-8% expansion in India's smartphone market for 2024, fueled by robust demand for 5G and AI-enhanced smartphones.

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