Counterpoint Research's insights for the Indian smartphone market in 2024 reveal significant shifts in market dynamics. Vivo has emerged as the market leader with 19% of shipments, leveraging its robust offline strategy and the success of its sub-brand, iQOO. Apple continues to dominate, with the iPhone 15 being the top shipped device. Meanwhile, Nothing saw incredible growth at 577%, and MediaTek outperformed Qualcomm in chipsets. The overall market saw a 9% rise in revenue while shipments only grew by 1% to 153 million units, indicating competitive challenges ahead for manufacturers.
In 2024, Vivo leads the Indian smartphone market with 19% shipments, while Apple retains the top market share and the iPhone 15 becomes the most shipped device.
Wholesale revenue in the Indian smartphone sector rose by 9% in 2024, but shipments increased only by 1%, totaling 153 million units.
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