India's smartphone market suffered its worst quarter in a decade, with shipments falling 20% year-on-year in Q3 2024 to their lowest level since 2016, according to Counterpoint Research. Record-high memory prices drove up device costs, causing demand to stay soft and brands to reduce inventory ahead of the festive season. The cheaper end of the market bore the brunt, with shipments of phones under INR 20,000 ($210) declining 47% as consumers held onto devices longer and postponed upgrades.
Samsung reclaimed the top spot after nine quarters with a 17% market share, driven by its Galaxy A series and measured price hikes. vivo (excluding i QOO) followed with 16%, while Oppo and Xiaomi (including Poco) tied at 12%. Ai+ Smartphone was the fastest-growing brand, with shipments surging 306%. Indian brands collectively rose from a 2% to 7% share, led by itel's 88% growth and Google's over 50% increase fueled by Pixel 11 sales.
MediaTek maintained a 45% chipset share, while Unisoc saw a resurgence. Counterpoint predicts a 13% market shrinkage in 2026, with further price hikes likely after the festive season as brands launch more 4G and lower-spec mass-market models, making 2027 another challenging year.
Source: GSMArena · Summarized by HeadlinesBriefing