The Indian smartphone market saw a modest 1% growth in the second quarter of 2024, with 36.4 million units shipped, as reported on Thursday.

 

Top Smartphone Manufacturers

  1. Xiaomi: Regained the top spot with an 18% market share, shipping 6.7 million units.
  2. Vivo: Also shipped 6.7 million units, driven by affordable 5G and mid-range models.
  3. Samsung: Shipped 6.1 million units, securing third place.
  4. Realme: Shipped 4.3 million units.
  5. OPPO: Shipped 4.2 million units, excluding OnePlus.

 

Market Challenges and Trends

  • Challenges: Fluctuating mass-market demand, slow migration from feature phones, and rising second-hand smartphone use.
  • Growth Drivers: 5G upgrades continue to spur growth, with brands focusing on 'brand experience' for long-term gains.

 

Future Outlook

Sanyam Chaurasia, a senior analyst at Canalys, highlighted that leading brands are expanding their mid-high-end portfolios and leveraging early monsoon sales to clear inventory before the festive season. Brands are also creating artificial demand through promotions.

 

Upcoming Releases

  • Nothing: Announced 'Phone 2a Plus' for July 31, following the CMF Phone 1 launch, with promises of an 'extraordinary' device. Details remain undisclosed, but anticipation is high with the teaser tagline "Plus.More.Extra."

Stay updated on the latest market trends and upcoming smartphone releases by following our reports.