Smartphone Archives ~ My Mobile India

Highlights The Indian smartphone market grew 5.6% YoY in Q3 2024. Vivo and Oppo leading in market share and Apple achieving record shipments. Growth in the entry-premium and premium segments due to discounts and new 5G smartphones. Apple’s iPhone exports from India reached Rs 60,000 crore in seven months. Experts believe the Indian smartphone market growth in Q3 2024 is driven by attractive discounts, multiple financing options, extended warranty and bank offers in both online/offline channels. (Image credit - Reuters) India's smartphone market continued its growth streak for the fifth consecutive quarter according to IDC’s Worldwide Quarterly Mobile Phone Tracker. In Q3 2024, total smartphone shipments reached 46 million units recording a 5.6% year-over-year increase. While Vivo and Oppo maintained their top position in market share, Apple achieved the milestone of hitting its highest-ever quarterly shipment in India at 4 million units. Highlighting the factors working in favour of the Indian smartphone industry, Senior Research Manager Devices Research at IDC Asia Pacific, Upasana Joshi said, “Growth in the biggest quarter of the year was fueled by attractive discounts, multiple financing options, extended device warranty and cashback/bank offers across both online/offline channels. The launch of several new 5G smartphones also drove demand. One of the biggest draws during the eTailer sales was the attractive discounts on last year’s flagship models from Apple and Samsung.” International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker report. (Image credit - IDC) Vivo took the lead with a 15.8% market share and a 20% growth over Q3 2023, followed by Oppo, which saw impressive growth of 47.6%, capturing a 13.9% share. Meanwhile, Samsung slipped to third place, holding 12.3% of the market with a notable 19.7% decline. OnePlus experienced the largest drop, with a 39.3% decrease, placing it in tenth. Realme came in fourth with an 11.5% share, showing a similar decline to Samsung, while Xiaomi’s share remained steady at 11.4% with a small 2.7% increase. Apple, however, surged 58.5%, capturing an 8.6% market share with record-breaking shipments. Motorola and iQOO also saw impressive growth, with Motorola growing 149.5% and iQOO by 101.4%, giving them market shares of 5.7% and 4.2%, respectively. Sharing insights on the potential of Q4, AVP Devices Research IDC Navkendar Singh said, “Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India's smartphone market is expected to exit 2024 with a low single-digit annual growth. For the market to see high growth in 2025, it needs strong momentum in mass and entry-premium segments (US$100<US$400). We should also expect more affordable offerings and high decibel marketing around Gen AI features on smartphones in 2025.” IDC shared the brand share graph while revealing the report findings. (Image credit - IDC) Key Highlights of Q3 2024 Average Selling Price (ASP): ASP rose 0.9% YoY and 3.8% QoQ, reaching $258. Entry-Premium Segment ($200-$400): This segment saw a 42% YoY growth, now making up 28% of the market, with Oppo leading growth. Vivo and Samsung saw declines, but together these three brands hold 53% of this segment. Premium Segment ($600-$800): This price range rose by 86% YoY, capturing 4% of the market, with Apple’s market share rising to 71% while Samsung dropped to 19% (from 30% last year). Key models included iPhone 15, iPhone 13, Galaxy S23, and OnePlus 12. 5G Shipments: 5G smartphones comprised 83% of shipments with 38 million 5G units shipped. The ASP for 5G devices dropped 20% YoY to $292, with models like the Xiaomi Redmi 13C, iPhone 15 and OPPO K12x driving growth in the mass-budget segment. Sales Channels: Online shipments grew 8% YoY making up 51% of total sales with Apple ranking as the second-largest player in this channel. Offline sales rose 3% YoY with brands extending similar offers across both channels. Apple iPhones Exports From India Hit Record Rs 60,000 Crore Worth Apple is exporting newly launched iPhone 16 models and other popular iPhone 15 and 14 series models from India. (Image credit - Apple) Meanwhile, Apple recorded a major export milestone. Apple’s iPhone exports reached Rs 60,000 crore (about $7 billion) in the first seven months of the current fiscal year, averaging $1 billion per month—a first for any company in India. The growth supported by the GoI’s 'Make in India' initiative and production-linked incentive (PLI) scheme is set to drive Apple’s export record even higher. Meanwhile, the ongoing production of the iPhone 16 series alongside older models like the iPhone 15 and 14 are going to be at the centre of future numbers. FAQs Q1. How much did India's smartphone market grow in Q3 2024? Answer. In Q3 2024, India's smartphone market grew 5.6% year-over-year, with total shipments reaching 46 million units. Q2. Which brands held the top market shares in Q3 2024? Answer. Vivo took the lead with a 15.8% market share, followed by Oppo with a 13.9% share, while Apple surged to an 8.6% market share. Q3. What were the key growth drivers for the Indian smartphone market in Q3 2024? Answer. Growth was fueled by attractive discounts, multiple financing options, extended device warranty, cashback/bank offers, and the launch of several new 5G smartphones. Q4. How much did Apple’s iPhone exports from India reach? Answer. Apple’s iPhone exports reached Rs 60,000 crore (about $7 billion) in the first seven months of the current fiscal year. Q5. What were the average selling price (ASP) trends in Q3 2024? Answer. The average selling price (ASP) rose 0.9% year-over-year and 3.8% quarter-over-quarter, reaching $258. Also Read : Apple Nearly Matches Samsung in Q3 2024 Global Smartphone Sales; Global Market Grew 5% Also Read : iPhone 16 Sales Meet Expectations; Teen Survey Hints iPhone 16 Upgrades After Apple Intelligence Also Read : Apple's Sales in India Soar to $8 Billion, Marking 33% Growth: Report

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