According to Counterpoint Research, the Indian smartphone market declined 10% year-over-year in Q2 2024 (April–June), marking the steepest shipment drop in six years. Chinese brands recorded their lowest second-quarter share since 2020.

vivo led with 17.8% share (19.5% including iQOO), but Oppo's combined portfolio with OnePlus and Realme reached 26.1%, making it the true leader. Samsung held 17.6% with 2% shipment growth, while Xiaomi rose to 9.4% and Poco fell to 4%, leaving their combined share flat at 13.4%.

Nothing emerged as India's fastest-growing brand, with shipments surging 105% driven by the Phone (4a) series and RCB cricket sponsorship. In the premium segment (>₹45,000), Google grew 68% YoY as it avoided price hikes, while Apple shipments dipped 3% to a 7% share.

Average prices rose ~15% due to memory and storage cost spikes, hammering the sub-₹15,000 segment where shipments plunged 45%. Counterpoint Research forecasts a 13% full-year decline as memory prices climb further.