India’s smartphone market in 2024 reflected varied consumer preferences, with notable growth in premium segments. According to the CyberMedia Research (CMR) India Mobile Handset Market Review Report for CY2024, the premium smartphone segment (Rs. 25,000- Rs. 50,000) continued its double-digit growth.
The super-premium (Rs. 50,000- Rs. 1,00,000) and uber-premium (>Rs. 1,00,000) segments also saw gains of 10% and 25%, respectively. Consumers leaned toward high-end devices, driven by advanced features and lifestyle appeal.
Meanwhile, the sub-Rs. 10,000 5G segment grew by 80% year-on-year (YoY), fueled by new launches and demand for affordable, feature-rich smartphones.
Market Leaders and Brand Performance in Q4 2024
In Q4 2024, vivo led the smartphone market with an 18% share, followed by Xiaomi (15.2%) and Samsung (15.1%). OPPO and Apple took the fourth and fifth spots with 11.4% and 11% shares, respectively.
Apple recorded a 72% YoY growth, entering the top five for the first time, driven by demand for new and older iPhone models, strong marketing, and festive discounts. Apple’s share in the super-premium segment rose by 82% YoY, while the uber-premium segment grew by 32% YoY.
Menka Kumari, Senior Analyst at CMR, highlighted the market’s diversity. She noted that while premium segments expand as lifestyle choices, the sub-Rs. 10,000 segment is recovering, supported by affordability and accessibility efforts.
Full-Year 2024: Competitive Landscape
For the full year, Xiaomi led with an 18% market share, followed by Samsung (16.9%) and Vivo (16.7%). Vivo topped the 5G segment with a 19% share, slightly ahead of Samsung’s 18%.
In the premium segment (>Rs. 25,000), Samsung held 28%, Apple 25%, and Vivo 15%. The affordable segment (sub-Rs. 7,000) saw a 1% YoY growth, while the value-for-money segment (Rs. 7,000-Rs. 25,000) declined by 7%, signaling a shift toward premium devices.
Feature Phone Segment Decline
The feature phone market faced a downturn in Q4 2024. The 2G segment dropped by 22% YoY, and the 4G segment declined sharply by 59% YoY, reflecting a growing preference for affordable smartphones.
Brand Performance Highlights in Q4 2024
- vivo: Led with an 18% share; models like Vivo T3X, Y28s, and T3 Lite made up 45% of its 5G shipments.
- Xiaomi: Held a 15.2% share; Redmi 13C 5G, A3X, and A4 were key models, with Poco C61 contributing 44% of shipments.
- Samsung: Achieved a 15.1% share but saw a 27% YoY decline in the value-for-money segment due to competition.
- OPPO: Reached an 11% share with a 33% YoY shipment increase, led by OPPO A3 Pro, A3X, and A3.
- Lenovo (Motorola): Grew by 48% YoY, driven by product differentiation and a growing user base.
- Transsion Group (Itel, Infinix, Tecno): Faced a 13% YoY decline due to competition in affordable and value-for-money segments.
- Nothing: Saw an 800% YoY growth in Q4 and 200% for the year, driven by the Nothing 2a series and CMF sub-brand.
MediaTek dominated the chipset market with a 52% share, while Qualcomm held 26%, powering one in three premium smartphones.
Outlook for 2025
CMR forecasts a tough first half of 2025, with single-digit growth for the year. Brands will prioritize premium offerings, focusing on Generative AI (GenAI). Pankaj Jadli, Analyst at CMR, noted that the premium segment (Rs. 25,000 and above) will continue to grow due to rising demand.
Brands will shift from hardware-focused strategies to GenAI-centric approaches while innovating in the value-for-money and affordable segments to address mass-market needs, Pankaj Jadli added.