Vivo Leads In Volume, Samsung In Value And Nothing Sees The Fastest Growth in India Report Reveals
Counterpoint has released the Monthly India Smartphone Tracker research for Q1 2024 that says India’s smartphone shipments in Q1 2024 (January-March) grew 8% YoY in terms of volume and 18% in terms of value. The ongoing premiumization trend and new launches during the quarter are said to be the reason behind the rise in value whereas the healthy inventory and low base of Q1 2023 are said to be the reason behind the rise in volume growth. Samsung led the market in terms of value with a 25% market value share. And after Samsung comes to Apple with a 19% share driven by the latest iPhone 15 series.
It’s interesting to see the trend in the Indian smartphone market volume share of Q1 2024. For the first time Vivo has managed to capture to capture the top spot by 19.2% volume share. Vivo also includes iQOO in recent days have launched a number of impressive smartphones in the market. Xiaomi has got the second position with an 18.8% market volume share in Q1 2024. Samsung and Oppo’s market volume share has reduced in comparison to Q1 2023. Nothing compares to a new tech brand in the market that has grown the fastest with 144% YoY of massive growth. Motorola has also seen a growth of 58% YoY in shipments in Q1 2024.
