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

Vivo has surpassed Samsung to become the second most-selling smartphone brand in India's market for the third quarter of 2024, according to the latest data from CyberMedia Research. The 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 the third position with a slightly lower market share of 16.2 per cent.

The 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 the 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, the 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, they captured the second and third spots with only a slight difference in their shipment volumes. Xiaomi continued to lead the market with a 17 per cent share in the third quarter of 2024, reflecting a 4 per cent year-over-year growth, driven by popular models such as the Redmi 13C 5G and Redmi 13 5G. Additionally, its sub-brand POCO recorded an 8 per cent year-over-year increase in shipments.

Oppo ranked fourth in the market, boasting a 13 per cent share and the 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 ahead, the mobile handset market in India is expected to maintain steady growth. As brands focus on bridging technology gaps and introducing affordable 5G devices, the competition will likely intensify. The new wave of AI-capable devices will continue to fuel consumer preferences in the coming quarters," said Pankaj Jadli, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).