Indian Smartphone Shipments Grew 9% In Q3 2024; Vivo Secures Top Position For The First Time

As per the latest Canalys research report, the Indian smartphone market grew 9% in Q3 2024 by shipping 47.1 million units. It was revealed that vendors cleared inventory through early monsoon sales across online and offline channels to gear up for the festive season. However, early festive demand was sluggish, impacted by rising food inflation and slow urban spending on consumer durables.

For the first time, vivo secured a pole position with 26% annual growth and 19% market share in Q3 2024, Xiaomi is in the second position with a 17% market share in this quarter but the annual growth is only 3%. Samsun is in third position with a 16% market share but the brand witnessed a 4% decline in annual growth. Oppo and Realme are in fourth and fifth position with 13% and 11% market share respectively. Among all the five brands, Oppo is the only company to witness the highest annual growth at 43%.

According to Sanyam Chaurasia, Senior Analyst at Canalys, “Both vivo and OPPO leveraged their expanded online portfolios, including the T3 and K12 series, to boost volumes beyond their traditionally stronger offline channels. The top brands in the market are expanding their portfolio in the mid-high range, in anticipation of clearing inventory during festive sales. Meanwhile, brands outside the top five experienced another strong quarter. Apple drove significant volumes with the iPhone 15, with stronger demand coming from smaller cities, ahead of its latest launch. Other brands, such as Motorola, Google, and Nothing, continue to drive volumes owing to strong pull factors from the unique design language, clean user interface, and channel expansion strategies.”