New Delhi. Indian smartphone shipments declined 2% year-on-year in Q2 2024 (April to June), leading to inventory build-up. Despite the drop in shipments, market value also set a new record for the second quarter. According to a report by Counterpoint Research, the decline in smartphone shipments in Q2 2024 was due to the intense heat in the country, seasonal slowdown and lower demand than Q1 2024.
Shilpi Jain, Senior Research Analyst at Counterpoint Research, said, “Heat waves in various regions led to lower footfall in offline channels and delay in smartphone purchases as users preferred appliances like air conditioners and refrigerators.”
Talking about market share, Xiaomi has overtaken Samsung to take the first position, which had 18.9% market share in Q2 2024, up from 15% in Q2 2023. The company registered a 23% year-on-year growth in shipments due to its streamlined and focused portfolio.
Also read: This special edition of Xiaomi 14 CIVI has arrived, the banner panel is special, this is the price
Vivo emerged second with a market share of 18.8% in Q2 2024, up from 17.4% in Q2 2023. The company has maintained the second position. At the same time, Samsung, which was at the top spot with 18.4% market share in Q2 2023, moved up to third place with 18.1% market share. Realme and Oppo remained at fourth and fifth positions with 12.5% and 11.4% market share respectively.
Indians prefer to buy expensive smartphones
Indian consumers are moving towards premium smartphones and this became clear in the second quarter of 2024. Because despite the decline in shipments, the value of smartphones reached a high level in the second quarter. The ultra-premium segment with smartphones priced above Rs 45,000 registered a growth of 24% year-on-year. The special thing is that despite being ranked third in terms of market share in shipments, Samsung is at the top position with almost a quarter of the market value.
Samsung tops the list with 24.5% market value share, up from 23.2% in Q2 2023. Vivo is also in second place here with a market value share of 16.8%, up from 16% in Q2 2023. Apple, which caters to the premium segment, is in third place with 16.3% market value share, up slightly from 16.2% recorded in Q2 2023.
Tag: 5G Smartphones, technology news, tech news hindi
first published : July 31, 2024, 5:44 pm IST
