Canalys: India's smartphone market grew slightly by 1% in Q2, with Xiaomi returning to the top spot

Canalys reported that in the second quarter of 2024, the Indian smartphone market grew slightly by 1%, with total shipments reaching 36.4 million units, affected by various factors such as sluggish seasonal demand and extreme weather in some areas.

Amid high inventory levels, some manufacturers continue to launch new models with higher prices, while others are focusing on reducing existing inventory to optimize inventory ahead of the holiday season.

Xiaomi regained the top spot after six quarters with 6.7 million units shipped and 18% market share. Vivo followed closely behind, with shipments reaching 6.7 million units, mainly due to affordable 5G and mid-range models. Samsung ranked third with shipments of 6.1 million units. realme and OPPO (excluding OnePlus) ranked among the top five with shipments of 4.3 million units and 4.2 million units respectively.

Canalys’ latest consumer research shows that 44% of consumers expect to purchase devices in the next 12 months, with the vast majority being “upgrade buyers” focusing on technologies including 5G The latest innovations. Canalys expects overall shipments to grow in the mid-single digits during the upcoming holiday season.

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