Counterpoint Report: India’s smartphone market has registered a growth of 3 percent in the third quarter of this year (Q3 2024). During this period, Samsung led the market with 23 percent share, while Apple gave it tough competition with 22 percent share. According to the latest research from Counterpoint’s monthly India Smartphone Tracker, the value of the Indian smartphone market has grown by 12 percent (year-on-year) to an all-time high in a single quarter. The share of 5G smartphones has reached 81 percent in total shipments, which is the highest so far.
Users attracted towards expensive phones
Prachir Singh, senior research analyst at Counterpoint, said, “There is a shift in the market towards rapid price increases, driven by the premiumization trend. This is due to attractive EMI offers and trade-in support. Samsung has launched its flagship Galaxy S series and has expanded its value-based portfolio, Samsung is also integrating Galaxy AI features into its mid-range and affordable premium models to encourage users to upgrade to higher-end mobiles. .”
On the other hand, Apple is in second place. This company has expanded aggressively in small cities. Apple has achieved significant price growth by focusing on new iPhones. “Strong shipments of iPhone 15 and iPhone 16 ahead of the festive season have further boosted Apple’s performance. Consumers are investing in premium smartphones, making Apple the first choice for premium buyers,” Singh said.
Nothing made a record
The Nothing brand was the fastest growing brand for the third consecutive quarter, registering 510% YoY growth in Q3 2024 and entering the top-10 for the first time. According to the report, Nothing’s growth has been possible due to portfolio expansion, strategic market entry and partnerships with over 800 multi-brand outlets across more than 45 cities.
In Realme’s portfolio, the contribution of the premium price band (Rs 30,000 and above) increased by 6 percent in Q3 2024, led by the re-introduction of the GT series this year.
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