India’s smartphone market continued its growth streak for the fifth consecutive quarter, with shipments reaching 46 million units in the third quarter of 2024 (3Q24), reflecting a 5.6 percent year-over-year (YoY) increase, according to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. This growth was driven by attractive discounts, financing options, extended warranties, and cashback offers available both online and offline. The launch of new 5G smartphones also helped boost demand, particularly during e-commerce sales events.
Vivo continued to lead the market for the third quarter in a row, thanks to its popular affordable Y series and newer T3 and V40 models. Oppo, following closely behind, saw significant growth, fueled by its new budget-friendly models like the A3x/ K12x, and Reno 12 series. Vivo and Oppo’s performance came at the expense of Xiaomi and Samsung. Both Samsung and Xiaomi see a decline in market share.
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Apple posted its largest-ever quarterly shipment in India, hitting 4 million units, led by the iPhone 15 and iPhone 13 models. This strong performance has helped Apple further widen its market lead over Samsung.
The growing popularity of 5G phones is also evident, with 38 million 5G units shipped in 3Q24. This marked a major shift, with 5G phones now accounting for 83 percent of total smartphone shipments, up from 57 percent in the same quarter last year.
Online sales continued to thrive, growing by 8 percent YoY, now representing 51 percent of total shipments. Apple was the second-largest player in the online market, with the iPhone 15 and iPhone 13 being the top-selling models. Offline sales also increased by 3 percent YoY, as brands extended their offers across both channels.
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“Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India’s smartphone market is expected to exit 2024 with a low single-digit annual growth. For the market to see high growth in 2025, it needs strong momentum in mass and entry-premium segments (US$100<US$400). We should also expect more affordable offerings and high decibel marketing around Gen AI features on smartphones in 2025,” says Navkendar Singh, AVP – Devices Research, IDC.