Due to rapid development in the telecommunications sector and increasing demand for mobile phones in recent years, the Smartphone market has gone through several changes in the last decade and now is one of the largest and most competitive markets across the world. As the headship of the population of consumers becomes more technologically inclined and the internet connection becomes more widespread, demand powers up in this sector making this sector record notable growth.
In this blog, we unveil details of the Indian smartphone market and investigate the future path of extension as well as outline the list of five primary leading smartphone manufacturers in India.
Growth of the Smartphone Market in India
India’s Smartphone market has been quite agile and has managed to grow 3% YoY, in Q3 2024, reveals CMR. However, this growth is impressive, especially taking into account the fact that it took place in the background of the unfavourable global economy. One of the main factors that have fueled this expansion is the growing market base in mid and premium Smartphones. However, there is 57% YoY growth in smartphones priced between ₹ 25,000 to ₹50,000 or premium smartphones and an astounding 66% YoY growth in smartphones priced between ₹ 7,000 to ₹ 24,999 or VFM smartphones.
Among the most significant trends of the past years, the popularity of 5G smartphones should be mentioned. For the category in question, Q3 2024 growth reached an astonishing YoY 49 % for shipments, whereby 5G devices equalled a shipment of 82 % for a single quarter of smartphones. This they attributed to growth in the affordability of 5G smartphones that are now being sold in the range ₹ 10,000 - ₹ 13,000 owing to increasing demand for high-performance phones at relatively affordable prices.
In addition, India’s smartphone market hit an all-time high for a single quarter, with overall value rising 12% YoY in Q3 2024. This increase can be blamed on the fact that consumers have continued to shift their focus to higher-end products that have better features.
Top 5 Leading Smartphone Companies in India
Due to the increasing popularity of Smartphones, a few companies have taken centre stage in particular. Here are the top five smartphone companies dominating the Indian market:
1. Xiaomi
Smartphone manufacturers in India have been triumphed by Xiaomi in a number of years; it provided a market share of 20.67% in the early of 2024. Xiaomi stands for value-for-money products, which managed to attract a vast audience offering not only affordable smartphones but with an optimal set of features. The operating model involves trying to be as inexpensive as possible, and covering a very wide territory with net sales of products; these actions have allowed the company to stay as a market leader since 2020.
2. Vivo
Vivo has ranked the second smartphone market share holder in India with 18.22%. The brand has managed to rise to public acclaim for the camera-oriented smartphones that target the youthful generation that cares much about the camera aspect of their smartphones. Most of Vivo’s marketing strategies involve partnerships with popular celebrities and social media influencers which improve its market reach among the targeted customers. The OLED technology has been growing steadily for the company which has even surpassed Samsung in some of the latest quarters.
3. Samsung
Currently, Samsung has slipped to third position in market share with 13.69% in India’s smartphone market. This is because Samsung has a very strong position in the market despite the constant growth of such Chinese competitors as Xiaomi or Vivo, Samsung has a wide range of smartphones starting from inexpensive models up to the Galaxy S series. It can be ascertained that the idea of innovation in the company’s foreground, coupled with improved quality, is still well received by the Indian market.
4. Realme
Realme has been able to catapult itself to one of the big players in the Indian smartphone industry with a market share of 13.45%. Oppo brought Realme as a sub-brand and aimed at providing the best smartphones with better and more efficient performance at a lesser price range. It has been involved in a number of aggressive marketing strategies and it frequently introduces many products to the market which has entitled a considerable youth population to own these inexpensive but competitive devices.
5. OPPO
Finally, OPPO holds the fifth place for smartphone brand market share in the country with 11.71%. Over, like Vivo, OPPO also launched its products focusing on the camera and the product surface designs. They are believed to be fashionable by design and have incorporated various distinctive design features to fit the requirements of fashionable consumers in the society. In its marketing campaigns, OPPO always expresses how it will provide quality and incorporate the latest technologies.
Conclusion
Since consumers are now inclining towards 5G and superior features on the smartphone at affordable prices, the Indian Smartphone Market is set to grow in the future. The rise of smartphones within society shows that this trend will continue to rise in the coming years among the population. Currently, the leading players are Xiaomi, Vivo, Samsung, Realme, and OPPO. With different techniques based on which they differentiate their value proposition and appeal to the consumers. These evolutionary companies will be the key players in the formulation of India’s Smartphone future as they continue to diversify and evolve with market trends.
Home to phenomenal demand pervading through the various segments and an increasingly growing population that is always thirsting for more on the technological front, the Smartphone Market of India can be scouts as a clear example of just how quickly the digital movement of India is advancing.
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