The smartphone market in India witnessed growth in the range of 8-10 percent in the March 2024 quarter, with Samsung leading the market, according to reports from Counterpoint Research and CyberMedia Research (CMR) released on Thursday. Apple also made significant gains, rising to the second spot in terms of both value and volume in the Indian smartphone market.
Counterpoint Research reported that smartphone shipments in India grew by approximately 8 percent in volume terms and 18 percent in value terms. Meanwhile, CMR estimated a 10 percent year-over-year growth in the Indian smartphone market, attributing the growth to the increasing popularity of 5G handsets.
Both market research firms identified Samsung as the market leader in the Indian smartphone segment. According to CMR's estimates, Samsung's shipments grew by 4 percent year-over-year and captured a 19 percent volume share in the segment.
In the 5G smartphone market, Samsung maintained its lead with a 22 percent market share, followed by Vivo at 18 percent. Overall, the mobile market witnessed a 20 percent year-over-year growth in the first quarter of 2024. The top three spots in the smartphone leaderboard for the March 2024 quarter were held by Samsung, Xiaomi, and Vivo, according to the CMR report.
Counterpoint's report also highlighted Samsung's dominance, with the company leading the chart with a 25 percent volume share and 23 percent share in terms of value. Apple, the iPhone maker, closely followed Samsung, capturing 19 percent volume share and 22 percent share in value terms.
