2 months ago
22
Xiaomi emerged as the market leader, securing 18% share with 6.7 million units shipped. Vivo also shipped 6.7 million units, closely following Xiaomi. Samsung ranked third with 6.1 million units shipped. Realme and Oppo, excluding OnePlus, completed the top five read more
 "Indian smartphone market grew by 1 per cent in Q2 of 2024, while globally, it grew by 6 per cent")
While the Indian smartphone market shows only slight growth, strategic inventory management and a focus on 5G upgrades could play pivotal roles in shaping its future dynamics. Image Credit: Reuters
A recent research by Canalys reveals that the Indian smartphone market experienced minimal growth in Q2 2024, with shipments increasing by just 1 per cent to a total of 36.4 million units. As opposed to this, global shipments grew by 6%.
Despite this modest rise, inventory levels have remained high, prompting different strategies among vendors. Some have launched new devices in higher price segments, while others have focused on clearing out existing stocks in preparation for the festival season.
Xiaomi emerged as the market leader, securing an 18 per cent share with 6.7 million units shipped. This marks a significant comeback for the company, reclaiming the top position after six quarters. Vivo also shipped 6.7 million units, closely following Xiaomi, thanks to its successful range of affordable 5G and mid-range models.
Samsung ranked third with 6.1 million units shipped. Realme and Oppo, excluding OnePlus, completed the top five, shipping 4.3 million and 4.2 million units respectively. These figures were reported by Canalys, a leading global technology market analyst firm.
Sanyam Chaurasia, Senior Analyst at Canalys, noted that top mass-market brands have expanded their mid-high-end portfolios.
This strategic move aims to use early monsoon sales to clear out inventory, making room for new models ahead of the festive season. Chaurasia emphasized that vendors should prioritize business viability over market share, focusing on providing strong value propositions for consumers.
Chaurasia also highlighted the significant shift towards 5G device upgrades. According to a recent consumer study by Canalys, 44 per cent of consumers expect to purchase a new device within the next 12 months. A significant majority of these consumers are ‘upgrade buyers’ who are keen on the latest innovations, particularly those related to 5G advancements.
Overall, while the Indian smartphone market shows only slight growth, strategic inventory management and a focus on 5G upgrades could play pivotal roles in shaping its future dynamics. The competitive landscape remains intense, with major players like Xiaomi, Vivo, and Samsung continually adjusting their strategies to capture consumer interest and maintain market positions.
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English (US) ·