Vivo is the big mover in the Indian smartphone market in Q1 2024 by gaining big volume growth compared to Xiaomi and Samsung during the period. Some of the reports you must have read this week could have talked about Vivo leading the whole market in this quarter but the reality is that its top position is only based on the market volume share.
India’s Smartphone Market Reality: Who Leads, Who Loses?
The report from Counterpoint Research tells you that Samsung hasn’t lost its market share in the country. It still leads the sector with 25 percent share, followed by Apple, Vivo and then Xiaomi with 19 percent, 18 percent and 10 percent share, respectively. These numbers are only for the Q1 2024 which explains why Apple is even in the discussion.
But things take a big turn when you look at the market share by volume, where Vivo is leading the sector with 19.2 percent, followed by Xiaomi, Samsung and Oppo with 18.8 percent, 17.5 percent and 10.1 percent, respectively.
The report says Vivo’s focus on design, 5G and imaging capabilities has helped the brand inch up the ladder. The recently launched Vivo V30 series is likely to have worked its magic in the market, both online and offline. Samsung’s Galaxy S24 series with GenAI features along with the Galaxy A-series phones has helped the company increase its average selling price.
Apple saw the demand for iPhone 15 models deliver a record quarter for the company, especially via its exclusive stores that opened last year. The growth of the 5G phone shipment is also evident, with 71 percent of the devices now headed to the market are 5G-enabled. The average selling price has also gone up in the past few quarters because the price of the phones have increased.
For instance, a Redmi Note phone that was worth Rs 12,000 a few years back is now upwards of Rs 20,000. These changes tell you the reason why the mid-to-premium segment of above Rs 35,000 is doing well in the country lately.
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