Vivo surpasses Samsung as India's 5G market grows 3% in Q3 2024

Vivo has surpassed Samsung to become second most-selling smartphone brand in India's market for third quarter of 2024, according to latest data from CyberMedia Research. firm's India Mobile Handset Market Review Report for Q3 2024 indicates that Vivo achieved a 10 per cent year-over-year growth, securing a market share of 16.3 per cent. In contrast, Samsung held third position with a slightly lower market share of 16.2 per cent.

report highlights that India's 5G smartphone market experienced a year-over-year growth of 3 per cent in Q3 2024, driven by strong consumer demand, particularly in mid-range and premium smartphone sectors, despite ongoing economic challenges. Shipments of 5G smartphones rose to 82 per cent, contributing to a 49 per cent year-over-year growth. Notably, segment of smartphones priced between Rs 10,000 and Rs 13,000 saw an impressive year-over-year surge of over 100 per cent during this quarter.

As Vivo marked a 10 per cent year-over-year growth and Samsung experienced a 3 per cent decline, y captured second and third spots with only a slight difference in ir shipment volumes. Xiaomi continued to le market with a 17 per cent share in third quarter of 2024, reflecting a 4 per cent year-over-year growth, driven by popular models such as Redmi 13C 5G and Redmi 13 5G. ditionally, its sub-brand POCO recorded an 8 per cent year-over-year increase in shipments.

Oppo ranked fourth in market, boasting a 13 per cent share and highest year-over-year growth in shipments at 33 per cent. Meanwhile, its spinoff, Realme, faced a 15 per cent decline in shipments, placing it in fifth position with a 12 per cent market share. Nothing, a new entrant in India's smartphone market, showcased remarkable growth of approximately 646 per cent, while Motorola saw a 74 per cent increase in shipments.

“Looking ahe, mobile handset market in India is expected to maintain stey growth. As brands focus on bridging technology gaps and introducing affordable 5G devices, competition will likely intensify. new wave of AI-capable devices will continue to fuel consumer preferences in coming quarters," said Pankaj Jli, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).