Xiaomi Overtakes Vivo as India’s Top Smartphone Maker in Q2 2024: Canalys
Xiaomi and Vivo dominated the Indian market in Q2 2024, with the most market share.
According to a survey by a technology industry analysis organization, smartphone shipments in India had a meager one percent growth in the second quarter (April-June) of 2024 compared to the same period in the previous year. The analysis indicates that the modest increase might be attributed to many variables, such as national elections, reduced seasonal demand, and adverse weather conditions in some regions. Xiaomi and Vivo were among the leading brands with the highest market share in the quarter. Significantly, the predictions for Xiaomi in this research include data from Poco, which is a subsidiary brand of the business, but the figures for Oppo do not take into account OnePlus.
Growth of the Indian smartphone market in the second quarter of 2024
According to a research by market analysis company Canalys, the total number of smartphones supplied in India during Q2 2024 was 36.4 million, slightly surpassing the 36.1 million units shipped in Q2 2023. The survey indicates that Xiaomi and Vivo each delivered 6.7 million devices, accounting for an equal market share of 18 percent each.
Samsung closely trailed with a market share of 17 percent, shipping a total of 6.1 million devices. Realme and Oppo followed after, shipping 4.3 million and 4.2 million units, respectively, capturing market shares of 12 percent and 11 percent.
The Redmi Note 13 Pro series and the Xiaomi 14 Civi, as well as Vivo’s V-series and the Vivo Y200 Pro, were key factors in Xiaomi and Vivo’s increased market share, according to the survey.
Factors such as the national general elections, adverse weather conditions, fluctuating demand, and the gradual transition from feature phones to smartphones may explain the modest annual increase in the quarter. Additionally, the survey noted that another factor contributing to this phenomenon is the increasing prevalence of acquiring pre-owned cellphones.
Forecast for the Indian smartphone market in the second half of 2024
The survey also said that the majority of firms would anticipate using monsoon e-commerce sales to deplete their inventory in preparation for forthcoming product releases.Furthermore, it anticipates that purchasers will transition to more advanced smartphones with superior functionalities and advancements in the upcoming months. The survey anticipates that the majority of users will prioritize 5G connection and generative AI capabilities on their handsets.
The company anticipates a growth rate in the range of 5-9% for both the forthcoming holiday season and total shipments in the remainder of 2024.
CREDIT: Allneedsllc, Gadgets360
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