Vivo Takes Top Spot In Indian Smartphone Market For Q1 2024
Vivo dethrones Samsung as India's top smartphone brand in Q1 2024, driven by budget segment focus and strong offline presence
The Indian smartphone market witnessed continued growth in the first quarter of 2024, with shipments reaching 34 million units, according to the International Data Corporation (IDC). This marks a consecutive third quarter of growth, driven by factors such as new product introductions, promotional campaigns and accessible financing options.
Vivo emerged as the leading smartphone brand in India during this period, surpassing long-time leader Samsung. This shift is attributed to Vivo's diverse product portfolio catering to various price segments and its strong support for offline retailers. Their focus on the budget segment, where they hold a significant share, proved particularly impactful.
Samsung, now holding the second position, experienced mixed results despite introducing new products. While they achieved growth in the premium segment, where they compete closely with Apple's dominant 44 per cent market share, their overall shipments declined.
Additionally, Poco achieved a significant milestone by surpassing OnePlus. They registered an impressive 65 per cent year-over-year growth in smartphone shipments through online channels, solidifying their position as the second-leading brand in the entry-level segment and demonstrating their strength in the online market.
OnePlus faced challenges, particularly in the mid-premium segment where they hold a leading 38 per cent share, resulting in an overall market decline. Despite its strong presence in specific segments, OnePlus's shipments could not match the growth trajectory of competitors like Poco.
Further, Apple recorded a robust first quarter, with a 19 per cent year-over-year growth driven by the success of the iPhone 14 and 15 models, which accounted for over half (56 per cent) of their shipments. Apple maintains its dominance in the super-premium segment with a commanding 69 per cent market share.
The top 10 smartphone brands in Q1 2024 include Vivo, Samsung, Xiaomi, Oppo, Realme, Apple, Poco, OnePlus, Motorola and Tecno. Notably, Poco and Motorola achieved significant year-over-year growth of 72 per cent and 110 per cent, respectively.
This shift in the Indian smartphone market landscape indicates a growing consumer preference for diverse options and a competitive environment where brands must adapt their strategies to cater to different segments and distribution channels.
