CHART: A Look at India's Smartphone Market in Q1 2024
While the immediate future seems bright for the Indian smartphone market, the coming quarters will be a test for the brands.
Key highlights:
- The Indian smartphone market reached 35.3 million units in Q1 2024
- Samsung led the pack of smartphone vendors with a 19% share
- Mass-market brands like Xiaomi and vivo are adjusting their strategies
The Indian smartphone market is on a tear. After a rough Q1 2023 plagued by inflation and weak demand, the market bounced back in Q1 2024, shipping a healthy 35.3 million units, a 15% year-on-year increase.
This growth can be partially attributed to a lower base in the previous year, but analysts pointed to other factors including improved inventory situation, robust Republic Day sales in January and promotional campaigns from brands which helped to accelerate the momentum.
