India’s Smartphone Market Grows 8% in Q2 2024, Apple Shines With iPhone 16
India's smartphone market saw a 7-8% growth in Q2 2024, driven by new model launches and increased marketing efforts. Vivo, Samsung, Oppo, Realme, and Xiaomi lead the market, while Apple experienced significant growth with the iPhone 16.
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Image Credit : pexels
India's smartphone market has rebounded after two and a half years, according to market analysts. Smartphone shipments grew by 7-8% in Q2, with around 37-38 million units sold. New model launches, increased promotions, and marketing activities are the main reasons for this growth.
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Image Credit : Gemini
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Vivo leads with a 21.0% market share, followed by Samsung at 16.0%. Oppo holds the third position with a 13.0% share.
Realme is in fourth place with a 10.0% share, while Xiaomi made significant progress and secured the fifth spot with a 13.0% market share.
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Apple continued its strong performance, with the iPhone 16 emerging as the top-selling variant in the first half of the year. Apple's overall shipments increased by 21.5% year-over-year.
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Image Credit : Meta AI
Offline channel sales increased by 14.3% year-over-year, with their market share rising to 53.6%. However, online sales channels remained stable in Q2.
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Image Credit : Gemini
The average selling price has also increased. The ASP of smartphones rose by 10.8% in Q2, reaching $275.
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Despite the market rebound, analysts warn of a potential demand decline due to increased prices. However, new model launches are expected to further boost the market's recovery by the end of the year.
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