Xiaomi Gains Top Spot as Smartphone Shipments in India Decline in Q2 2024

Smartphone shipments in India declined in the second quarter of 2024 (April-June) despite several brands reporting year-on-year (YoY) growth, according to a report by a market research firm. Xiaomi grabbed the top spot in the smartphone shipments of Q2 2024 courtesy of it pushing its flagship handsets, while Samsung carried over its strong performance from the last quarter, leading in terms of overall value, with its ultra-premium segment registering a staggering 99 percent YoY increase.

Smartphone Shipments in India: Q2 2024

According to Counterpoint Research's Monthly India Smartphone Tracker, Xiaomi had a 23 percent YoY growth in its shipments, rising from 15 percent in Q1 2023 to 18.9 percent in Q2 2024. Courtesy of this rise, the Chinese company reclaimed the top spot in the Indian smartphone market in terms of units shipped, with improved marketing and expansive distribution being tipped as some of the contributing factors.

Smartphone Market Volume Share in Q2 2024
Photo Credit: Counterpoint Research

Meanwhile, Samsung led in value terms, registering a 1.3 percent increase in the Indian market value share. According to the firm, the South Korean technology conglomerate is expected to maintain its leadership following the introduction of its latest flagship foldable smartphones – the Galaxy Z Fold 6 and Flip 6.

In the same criteria, Vivo attained the second spot with a 16.8 percent value share while Apple ranked third with a 16.3 percent share. The iPhone maker is expected to make a comeback in the next quarter, with the recent price reductions across its entire range of iPhone models being touted as a driving factor.

While brands registered growth in terms of value and shipments, the overall shipments declined by 2 percent YoY. As per the tracker, heatwave, a seasonal slump, and slower demand compared to last quarter may be behind this fall. However, the 5G adoption in India is showing consistent growth, with 5G smartphones having a 77 percent share in the total shipments in Q2 2024. Original equipment manufacturers (OEMs) introducing more affordable 5G handsets is tipped to be one of the contributing factors.

Smartphone Market Value Share in Q2 2024
Photo Credit: Counterpoint Research

In terms of trends, Nothing registered the highest growth in the first half of the year, registering a 567 percent YoY increase courtesy of recently introduced offerings like Nothing Phone 2a and CMF Phone 1.

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The chipset market in India is also seeing competition between two global tech giants: MediaTek and Qualcomm. While the former led the overall smartphone shipments with a 54 percent market share, the latter was reported to be the preferred choice in the premium segment, with a 33 percent share.

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Xiaomi Gains Top Spot as Smartphone Shipments in India Decline in Q2 2024

Xiaomi Gains Top Spot as Smartphone Shipments in India Decline in Q2 2024

Xiaomi Gains Top Spot as Smartphone Shipments in India Decline in Q2 2024

Xiaomi Gains Top Spot as Smartphone Shipments in India Decline in Q2 2024

Xiaomi Gains Top Spot as Smartphone Shipments in India Decline in Q2 2024